Wall Street analysts forecast that CROWN CASTLE In/SH SH (NYSE:CCI) will announce sales of $1.40 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for CROWN CASTLE In/SH SH’s earnings. The highest sales estimate is $1.41 billion and the lowest is $1.38 billion. CROWN CASTLE In/SH SH reported sales of $1.24 billion in the same quarter last year, which would suggest a positive year over year growth rate of 12.9%. The business is scheduled to announce its next quarterly earnings report on Wednesday, January 23rd.
On average, analysts expect that CROWN CASTLE In/SH SH will report full-year sales of $5.39 billion for the current fiscal year, with estimates ranging from $5.35 billion to $5.41 billion. For the next year, analysts forecast that the firm will report sales of $5.66 billion, with estimates ranging from $5.56 billion to $5.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover CROWN CASTLE In/SH SH.
CROWN CASTLE In/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.06. CROWN CASTLE In/SH SH had a net margin of 10.07% and a return on equity of 4.22%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year.
NYSE CCI traded up $2.51 during mid-day trading on Monday, reaching $106.05. 4,728,265 shares of the stock were exchanged, compared to its average volume of 2,524,089. CROWN CASTLE In/SH SH has a 1 year low of $98.85 and a 1 year high of $114.97. The company has a market capitalization of $42.95 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.35. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.91 and a current ratio of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a yield of 4.24%. This is an increase from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, December 13th. CROWN CASTLE In/SH SH’s dividend payout ratio (DPR) is presently 86.60%.
In related news, Director J Landis Martin acquired 6,100 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were acquired at an average cost of $110.14 per share, with a total value of $671,854.00. Following the completion of the acquisition, the director now directly owns 107,822 shares in the company, valued at approximately $11,875,515.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert E. Garrison II sold 2,451 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $113.96, for a total transaction of $279,315.96. Following the transaction, the director now directly owns 23,100 shares in the company, valued at $2,632,476. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Kaizen Advisory LLC lifted its holdings in CROWN CASTLE In/SH SH by 142.5% during the second quarter. Kaizen Advisory LLC now owns 941 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 553 shares in the last quarter. Sun Life Financial INC raised its position in shares of CROWN CASTLE In/SH SH by 443.0% in the second quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 917 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of CROWN CASTLE In/SH SH in the second quarter valued at about $201,000. Ninepoint Partners LP acquired a new stake in shares of CROWN CASTLE In/SH SH in the third quarter valued at about $204,000. Finally, We Are One Seven LLC acquired a new stake in shares of CROWN CASTLE In/SH SH in the third quarter valued at about $213,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.
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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