Crown Castle International’s (CCI) “Buy” Rating Reiterated at Cowen

Cowen restated their buy rating on shares of Crown Castle International (NYSE:CCI) in a research note issued to investors on Friday. Cowen currently has a $119.00 target price on the real estate investment trust’s stock.

Several other brokerages have also commented on CCI. Deutsche Bank reissued a buy rating and issued a $120.00 price objective on shares of Crown Castle International in a report on Monday, January 22nd. Guggenheim reissued a buy rating and issued a $115.00 price objective on shares of Crown Castle International in a report on Friday, January 26th. Zacks Investment Research raised Crown Castle International from a sell rating to a hold rating in a report on Monday, January 29th. Goldman Sachs lowered Crown Castle International from a conviction-buy rating to a buy rating in a report on Tuesday, March 13th. Finally, ValuEngine raised Crown Castle International from a hold rating to a buy rating in a report on Monday, April 2nd. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Crown Castle International has a consensus rating of Buy and an average price target of $114.75.

Crown Castle International stock opened at $104.95 on Friday. The stock has a market cap of $41,756.82, a P/E ratio of 21.64, a P/E/G ratio of 1.26 and a beta of 0.29. Crown Castle International has a 52 week low of $93.14 and a 52 week high of $114.97. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.22.

Crown Castle International (NYSE:CCI) last posted its earnings results on Wednesday, April 18th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.98). The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Crown Castle International had a return on equity of 4.06% and a net margin of 8.87%. The firm’s revenue was up 27.9% on a year-over-year basis. During the same period last year, the business earned $1.11 earnings per share. research analysts anticipate that Crown Castle International will post 5.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were given a $1.05 dividend. The ex-dividend date was Thursday, March 15th. This represents a $4.20 annualized dividend and a dividend yield of 4.00%. Crown Castle International’s dividend payout ratio (DPR) is presently 86.60%.

In other news, SVP Kenneth Jay Simon sold 693 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $108.79, for a total value of $75,391.47. Following the transaction, the senior vice president now owns 14,869 shares in the company, valued at $1,617,598.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay A. Brown sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $108.43, for a total value of $1,951,740.00. Following the completion of the transaction, the insider now owns 162,526 shares in the company, valued at approximately $17,622,694.18. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCI. Alliancebernstein L.P. lifted its position in shares of Crown Castle International by 22.7% in the fourth quarter. Alliancebernstein L.P. now owns 7,247,868 shares of the real estate investment trust’s stock valued at $804,586,000 after acquiring an additional 1,338,562 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Crown Castle International by 296.6% in the fourth quarter. Eagle Asset Management Inc. now owns 1,296,485 shares of the real estate investment trust’s stock valued at $141,938,000 after acquiring an additional 969,591 shares in the last quarter. Magellan Asset Management Ltd lifted its position in shares of Crown Castle International by 5.4% in the fourth quarter. Magellan Asset Management Ltd now owns 12,647,428 shares of the real estate investment trust’s stock valued at $1,403,991,000 after acquiring an additional 653,226 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Crown Castle International by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 5,395,800 shares of the real estate investment trust’s stock valued at $598,988,000 after acquiring an additional 481,800 shares in the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new position in shares of Crown Castle International in the fourth quarter valued at approximately $45,218,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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About Crown Castle International

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service bringing information, ideas and innovations to the people and businesses that need them.

Analyst Recommendations for Crown Castle International (NYSE:CCI)

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