JPMorgan Chase & Co. Has Lowered Expectations for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $115.00 to $110.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 29.69% from the company’s previous close.

Several other research firms have also recently commented on CCI. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a report on Monday, December 29th. UBS Group reiterated a “buy” rating and set a $127.00 target price on shares of Crown Castle in a research note on Wednesday, December 10th. Jefferies Financial Group cut their price target on Crown Castle from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, December 16th. Citigroup decreased their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Finally, Raymond James Financial dropped their price objective on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.06.

Crown Castle Trading Up 1.4%

CCI traded up $1.15 on Monday, hitting $84.82. The company had a trading volume of 1,294,890 shares, compared to its average volume of 2,410,342. The company’s fifty day moving average price is $89.19 and its 200 day moving average price is $96.16. Crown Castle has a 1 year low of $83.21 and a 1 year high of $115.76. The firm has a market cap of $36.94 billion, a P/E ratio of -7.98, a PEG ratio of 0.54 and a beta of 0.96.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the business earned $1.84 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, analysts predict that Crown Castle will post 6.67 earnings per share for the current year.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $98.08, for a total value of $2,942,400.00. Following the completion of the transaction, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. This trade represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Winnow Wealth LLC purchased a new stake in shares of Crown Castle in the second quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Crown Castle in the 2nd quarter valued at about $27,000. NewSquare Capital LLC lifted its holdings in Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Crown Castle during the 3rd quarter worth about $29,000. Finally, Wiser Advisor Group LLC acquired a new stake in shares of Crown Castle during the 3rd quarter worth about $29,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.