Equities analysts expect that Crown Castle International Corp. (REIT) (NYSE:CCI) will announce $1.34 earnings per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Crown Castle International’s earnings, with estimates ranging from $1.29 to $1.36. Crown Castle International posted earnings of $1.24 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.1%. The firm is scheduled to issue its next quarterly earnings results on Monday, April 23rd.
According to Zacks, analysts expect that Crown Castle International will report full-year earnings of $5.54 per share for the current year, with EPS estimates ranging from $5.43 to $5.63. For the next year, analysts expect that the company will report earnings of $6.02 per share, with EPS estimates ranging from $5.89 to $6.11. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Crown Castle International.
Crown Castle International (NYSE:CCI) last released its quarterly earnings data on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.84). The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.14 billion. Crown Castle International had a net margin of 10.21% and a return on equity of 4.95%. Crown Castle International’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS.
Several research firms have issued reports on CCI. KeyCorp upped their price objective on Crown Castle International from $106.00 to $114.00 in a research note on Monday, November 27th. Deutsche Bank upped their price objective on Crown Castle International from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded Crown Castle International from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. Finally, Guggenheim restated a “buy” rating and issued a $115.00 price objective on shares of Crown Castle International in a research note on Friday, January 26th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $113.33.
Shares of Crown Castle International (CCI) opened at $110.99 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $45,162.61, a P/E ratio of 108.81, a price-to-earnings-growth ratio of 1.36 and a beta of 0.28. Crown Castle International has a 52 week low of $88.71 and a 52 week high of $114.97.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, March 15th. Crown Castle International’s payout ratio is 411.77%.
In other news, insider Jay A. Brown sold 18,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 162,526 shares of the company’s stock, valued at $17,622,694.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Jay Simon sold 693 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $108.79, for a total value of $75,391.47. Following the completion of the transaction, the senior vice president now directly owns 14,869 shares in the company, valued at approximately $1,617,598.51. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Avestar Capital LLC acquired a new stake in Crown Castle International during the fourth quarter worth approximately $112,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in Crown Castle International during the fourth quarter worth approximately $124,000. Icon Wealth Partners LLC acquired a new stake in Crown Castle International during the fourth quarter worth approximately $126,000. Benjamin F. Edwards & Company Inc. grew its position in Crown Castle International by 1,463.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 1,083 shares in the last quarter. Finally, Spectrum Management Group Inc. acquired a new stake in Crown Castle International during the third quarter worth approximately $124,000. 92.63% of the stock is currently owned by institutional investors and hedge funds.
About Crown Castle International
Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).
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