Crown Castle (NYSE:CCI) PT Raised to $124.00

Crown Castle (NYSE:CCI) had its price target increased by research analysts at JPMorgan Chase & Co. from $115.00 to $124.00 in a research report issued to clients and investors 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 would suggest a potential upside of 5.60% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets upped their target price on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Royal Bank of Canada lifted their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Raymond James reissued an “outperform” rating and issued a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. The Goldman Sachs Group started coverage on shares of Crown Castle in a research report on Monday, July 1st. They set a “neutral” rating and a $104.00 price objective on the stock. Finally, TD Cowen upped their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average price target of $114.33.

Crown Castle Trading Up 0.5 %

Shares of CCI stock opened at $117.42 on Monday. Crown Castle has a 12-month low of $84.72 and a 12-month high of $120.92. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The company has a 50 day moving average of $112.13 and a 200-day moving average of $104.07. The firm has a market cap of $51.02 billion, a P/E ratio of 36.69 and a beta of 0.85.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 EPS. Sell-side analysts anticipate that Crown Castle will post 6.64 earnings per share for the current year.

Insider Buying and Selling at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Crown Castle by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock valued at $5,990,991,000 after acquiring an additional 673,243 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of Crown Castle by 7.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after buying an additional 834,198 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Crown Castle by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after buying an additional 1,126,394 shares during the last quarter. Legal & General Group Plc increased its holdings in Crown Castle by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after buying an additional 67,072 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Crown Castle by 16.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock worth $523,773,000 after buying an additional 632,398 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.