CROWN CASTLE IN/SH SH (NYSE:CCI) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided EPS guidance of $5.66-5.73 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.63. CROWN CASTLE IN/SH SH also updated its FY 2019 guidance to $5.89-5.97 EPS.
CROWN CASTLE IN/SH SH stock traded down $1.10 during mid-day trading on Wednesday, hitting $131.62. The company had a trading volume of 1,571,268 shares, compared to its average volume of 1,842,432. The stock has a market cap of $55.19 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.54 and a beta of 0.33. CROWN CASTLE IN/SH SH has a 1 year low of $103.21 and a 1 year high of $137.85. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.76 and a current ratio of 0.76. The business has a fifty day moving average of $133.27.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.93). The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.39 billion. CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, equities analysts expect that CROWN CASTLE IN/SH SH will post 5.59 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $1.125 dividend. The ex-dividend date was Thursday, June 13th. This represents a $4.50 annualized dividend and a yield of 3.42%. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 82.12%.
CCI has been the topic of several recent analyst reports. Bank of America set a $47.00 price target on shares of Yandex and gave the company a buy rating in a research note on Tuesday, March 19th. New Street Research lowered shares of CROWN CASTLE IN/SH SH from a neutral rating to a sell rating and set a $113.00 price target on the stock. in a research note on Thursday, June 13th. Guggenheim downgraded Anadarko Petroleum from a buy rating to a hold rating and set a $69.00 price objective for the company. in a report on Friday, April 12th. Morgan Stanley increased their price objective on United Technologies from $155.00 to $164.00 and gave the company an overweight rating in a report on Monday, May 20th. Finally, Wells Fargo & Co increased their price objective on Sempra Energy from $137.00 to $140.00 and gave the company an outperform rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $122.46.
In other news, Director J Landis Martin acquired 18,350 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was acquired at an average cost of $123.13 per share, with a total value of $2,259,435.50. Following the completion of the acquisition, the director now owns 120,717 shares of the company’s stock, valued at $14,863,884.21. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert Sean Collins sold 1,200 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total value of $150,228.00. Following the completion of the sale, the vice president now directly owns 1,616 shares of the company’s stock, valued at $202,307.04. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.
About CROWN CASTLE IN/SH SH
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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