Brokerages Anticipate Crown Castle International Corp. (CCI) Will Announce Earnings of $1.34 Per Share

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Analysts predict that Crown Castle International Corp. (NYSE:CCI) will announce earnings of $1.34 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Crown Castle International’s earnings, with estimates ranging from $1.31 to $1.39. Crown Castle International reported earnings of $1.20 per share during the same quarter last year, which would indicate a positive year over year growth rate of 11.7%. The business is scheduled to report its next earnings results on Wednesday, July 18th.

On average, analysts expect that Crown Castle International will report full-year earnings of $5.52 per share for the current fiscal year, with EPS estimates ranging from $5.45 to $5.61. For the next financial year, analysts expect that the business will post earnings of $6.02 per share, with EPS estimates ranging from $5.92 to $6.12. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Crown Castle International.

Crown Castle International (NYSE:CCI) last released its earnings results on Wednesday, April 18th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.98). The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. Crown Castle International had a net margin of 8.87% and a return on equity of 4.06%. The business’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period last year, the business earned $1.11 EPS.

A number of research firms have issued reports on CCI. Zacks Investment Research raised Crown Castle International from a “sell” rating to a “hold” rating in a report on Monday, January 29th. ValuEngine lowered Crown Castle International from a “buy” rating to a “hold” rating in a report on Thursday, April 12th. Barclays lifted their price objective on Crown Castle International from $107.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 17th. Cowen reissued a “buy” rating and set a $119.00 price objective on shares of Crown Castle International in a report on Friday, April 20th. Finally, Guggenheim reissued a “buy” rating and set a $115.00 price objective on shares of Crown Castle International in a report on Friday, January 26th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $114.75.

CCI traded up $0.05 during midday trading on Friday, reaching $101.77. The company’s stock had a trading volume of 32,595 shares, compared to its average volume of 2,690,231. The firm has a market capitalization of $42.35 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.29. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.22. Crown Castle International has a twelve month low of $93.14 and a twelve month high of $114.97.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, June 14th. Crown Castle International’s dividend payout ratio is 86.60%.

In related news, insider Jay A. Brown sold 18,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $108.43, for a total value of $1,951,740.00. Following the sale, the insider now owns 162,526 shares of the company’s stock, valued at approximately $17,622,694.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony J. Melone purchased 1,979 shares of the firm’s stock in a transaction that occurred on Friday, April 27th. The stock was bought at an average cost of $101.06 per share, for a total transaction of $199,997.74. Following the purchase, the director now owns 10,547 shares in the company, valued at $1,065,879.82. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its stake in Crown Castle International by 10.9% in the 1st quarter. Amalgamated Bank now owns 59,006 shares of the real estate investment trust’s stock valued at $6,468,000 after buying an additional 5,823 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Crown Castle International by 10.3% in the 1st quarter. Summit Trail Advisors LLC now owns 5,963 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 557 shares in the last quarter. Front Row Advisors LLC boosted its stake in Crown Castle International by 10.8% in the 1st quarter. Front Row Advisors LLC now owns 8,143 shares of the real estate investment trust’s stock valued at $893,000 after buying an additional 795 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Crown Castle International in the 1st quarter valued at $219,000. Finally, Parsons Capital Management Inc. RI boosted its stake in Crown Castle International by 3.2% in the 1st quarter. Parsons Capital Management Inc. RI now owns 17,323 shares of the real estate investment trust’s stock valued at $1,899,000 after buying an additional 544 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle International Company Profile

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.

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Earnings History and Estimates for Crown Castle International (NYSE:CCI)

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