CROWN CASTLE In/SH SH (NYSE:CCI) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $5.80-5.91 for the period. CROWN CASTLE In/SH SH also updated its FY 2018 guidance to $5.48-5.50 EPS.
Shares of CCI stock traded down $0.60 on Friday, hitting $110.87. The stock had a trading volume of 1,495,786 shares, compared to its average volume of 2,884,512. CROWN CASTLE In/SH SH has a one year low of $98.85 and a one year high of $114.81. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market capitalization of $46.35 billion, a P/E ratio of 22.86, a PEG ratio of 1.37 and a beta of 0.35.
CROWN CASTLE In/SH SH (NYSE:CCI) last posted its earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. CROWN CASTLE In/SH SH had a return on equity of 4.22% and a net margin of 10.07%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, analysts anticipate that CROWN CASTLE In/SH SH will post 5.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a dividend of $1.125 per share. This is a positive change from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $4.50 dividend on an annualized basis and a dividend yield of 4.06%. CROWN CASTLE In/SH SH’s payout ratio is presently 86.60%.
A number of brokerages have recently weighed in on CCI. Morgan Stanley boosted their price target on CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the stock an overweight rating in a research note on Thursday, August 16th. Zacks Investment Research raised CROWN CASTLE In/SH SH from a hold rating to a buy rating and set a $124.00 target price for the company in a report on Thursday, July 19th. ValuEngine downgraded CROWN CASTLE In/SH SH from a buy rating to a hold rating in a report on Tuesday. Cowen reaffirmed a buy rating and set a $121.00 target price on shares of CROWN CASTLE In/SH SH in a report on Friday, July 20th. Finally, Guggenheim reaffirmed a buy rating and set a $120.00 target price on shares of CROWN CASTLE In/SH SH in a report on Friday, July 20th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $117.67.
In other news, Director Robert E. Garrison II sold 2,451 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $113.96, for a total transaction of $279,315.96. Following the completion of the transaction, the director now directly owns 23,100 shares of the company’s stock, valued at approximately $2,632,476. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Langenfeld Cynthia K. Christy bought 900 shares of CROWN CASTLE In/SH SH stock in a transaction dated Monday, October 22nd. The shares were acquired at an average cost of $106.19 per share, with a total value of $95,571.00. Following the completion of the purchase, the director now owns 25,424 shares in the company, valued at $2,699,774.56. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
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About CROWN CASTLE In/SH SH
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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