CROWN CASTLE In/SH SH (CCI) Releases Earnings Results, Beats Estimates By $0.06 EPS
CROWN CASTLE In/SH SH (NYSE:CCI) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06, RTT News reports. CROWN CASTLE In/SH SH had a net margin of 9.72% and a return on equity of 4.20%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm posted $0.21 EPS. The company’s quarterly revenue was up 29.4% on a year-over-year basis.
Shares of CCI stock opened at $106.79 on Thursday. The stock has a market cap of $46.18 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.69 and a beta of 0.35. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.26. CROWN CASTLE In/SH SH has a 52 week low of $98.85 and a 52 week high of $114.97.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a dividend of $1.125 per share. This is an increase from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. This represents a $4.50 annualized dividend and a dividend yield of 4.21%. CROWN CASTLE In/SH SH’s payout ratio is presently 86.60%.
A number of research analysts have recently commented on the stock. Guggenheim reissued a “buy” rating and issued a $120.00 price objective on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Zacks Investment Research downgraded shares of CROWN CASTLE In/SH SH from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 24th. UBS Group set a $120.00 price objective on shares of CROWN CASTLE In/SH SH and gave the company a “buy” rating in a research report on Friday, September 28th. Cowen reissued a “buy” rating and issued a $121.00 price objective on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Finally, Citigroup lifted their price objective on shares of CROWN CASTLE In/SH SH from $109.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, July 24th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $117.45.
CROWN CASTLE In/SH SH 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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