Analysts Expect Crown Castle International Corp. (REIT) (NYSE:CCI) Will Post Quarterly Sales of $1.50 Billion

Analysts expect Crown Castle International Corp. (REIT) (NYSE:CCI) to post $1.50 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Crown Castle International’s earnings. The lowest sales estimate is $1.47 billion and the highest is $1.53 billion. Crown Castle International posted sales of $1.42 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The business is expected to announce its next earnings results on Wednesday, May 5th.

On average, analysts expect that Crown Castle International will report full-year sales of $6.19 billion for the current fiscal year, with estimates ranging from $6.14 billion to $6.25 billion. For the next year, analysts expect that the firm will post sales of $6.50 billion, with estimates ranging from $6.44 billion to $6.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Crown Castle International.

Crown Castle International (NYSE:CCI) last released its quarterly earnings data on Wednesday, January 27th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.75. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Crown Castle International had a net margin of 13.09% and a return on equity of 7.57%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS.

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Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Crown Castle International from a “hold” rating to a “buy” rating and upped their price target for the company from $177.00 to $180.00 in a research report on Friday, December 11th. Raymond James decreased their price target on shares of Crown Castle International from $172.00 to $169.00 and set an “outperform” rating for the company in a research report on Friday, January 29th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Crown Castle International from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Thursday, January 14th. Credit Suisse Group decreased their price target on shares of Crown Castle International from $158.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, January 29th. Finally, Smith Barney Citigroup upgraded shares of Crown Castle International from a “neutral” rating to a “buy” rating in a research report on Thursday, January 14th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Crown Castle International has an average rating of “Buy” and a consensus target price of $174.78.

In related news, EVP Michael Joseph Kavanagh sold 3,796 shares of the stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $161.22, for a total transaction of $611,991.12. Also, Director J Landis Martin bought 500 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The shares were bought at an average cost of $155.49 per share, for a total transaction of $77,745.00. Following the completion of the purchase, the director now owns 143,940 shares of the company’s stock, valued at $22,381,230.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,700 shares of company stock valued at $1,079,562. 0.47% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Architects LLC lifted its stake in shares of Crown Castle International by 5.4% in the third quarter. Wealth Architects LLC now owns 1,278 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 65 shares in the last quarter. Texas Yale Capital Corp. lifted its stake in shares of Crown Castle International by 0.5% in the fourth quarter. Texas Yale Capital Corp. now owns 12,993 shares of the real estate investment trust’s stock valued at $2,068,000 after buying an additional 65 shares in the last quarter. Cigna Investments Inc. New lifted its stake in shares of Crown Castle International by 0.5% in the third quarter. Cigna Investments Inc. New now owns 13,608 shares of the real estate investment trust’s stock valued at $2,266,000 after buying an additional 66 shares in the last quarter. Meridian Wealth Advisors LLC lifted its stake in shares of Crown Castle International by 5.7% in the third quarter. Meridian Wealth Advisors LLC now owns 1,305 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 70 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC lifted its stake in shares of Crown Castle International by 4.3% in the third quarter. Regent Peak Wealth Advisors LLC now owns 1,797 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 74 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

CCI stock opened at $146.77 on Tuesday. The company has a 50 day simple moving average of $159.95 and a 200 day simple moving average of $160.87. The stock has a market cap of $63.30 billion, a price-to-earnings ratio of 91.73, a P/E/G ratio of 1.18 and a beta of 0.30. Crown Castle International has a 1 year low of $114.18 and a 1 year high of $180.00. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.62 and a quick ratio of 0.62.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th will be given a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, March 12th. Crown Castle International’s dividend payout ratio (DPR) is presently 93.50%.

About Crown Castle International

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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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