Goldman Sachs Group Lowers CROWN CASTLE IN/SH SH (CCI) to Neutral

CROWN CASTLE IN/SH SH (NYSE:CCI) was downgraded by Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, The Fly reports.

Several other brokerages have also recently weighed in on CCI. ValuEngine raised CROWN CASTLE IN/SH SH from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Raymond James raised CROWN CASTLE IN/SH SH from a “mkt perform” rating to an “outperform” rating in a research note on Thursday, January 3rd. TheStreet cut CROWN CASTLE IN/SH SH from a “b” rating to a “c+” rating in a research note on Wednesday, October 17th. Barclays raised their target price on CROWN CASTLE IN/SH SH from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, October 19th. Finally, Wells Fargo & Co raised their target price on CROWN CASTLE IN/SH SH from $123.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, December 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. CROWN CASTLE IN/SH SH currently has an average rating of “Hold” and a consensus price target of $119.20.

NYSE:CCI opened at $107.38 on Monday. CROWN CASTLE IN/SH SH has a 1 year low of $98.85 and a 1 year high of $117.60. The firm has a market capitalization of $43.84 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 1.22 and a beta of 0.42. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.33.



CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, sell-side analysts predict that CROWN CASTLE IN/SH SH will post 5.25 earnings per share for the current year.

In related news, Director Langenfeld Cynthia K. Christy purchased 900 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The stock was acquired at an average price of $106.19 per share, for a total transaction of $95,571.00. Following the transaction, the director now directly owns 25,424 shares of the company’s stock, valued at approximately $2,699,774.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.36% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CCI. Vanguard Group Inc boosted its position in shares of CROWN CASTLE IN/SH SH by 7.6% in the 3rd quarter. Vanguard Group Inc now owns 53,196,893 shares of the real estate investment trust’s stock valued at $5,922,410,000 after purchasing an additional 3,771,236 shares during the period. Vanguard Group Inc. boosted its position in shares of CROWN CASTLE IN/SH SH by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 53,196,893 shares of the real estate investment trust’s stock valued at $5,922,410,000 after purchasing an additional 3,771,236 shares during the period. Jennison Associates LLC boosted its position in shares of CROWN CASTLE IN/SH SH by 372.5% in the 3rd quarter. Jennison Associates LLC now owns 2,171,335 shares of the real estate investment trust’s stock valued at $241,735,000 after purchasing an additional 1,711,765 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CROWN CASTLE IN/SH SH by 10.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,983,955 shares of the real estate investment trust’s stock valued at $666,172,000 after purchasing an additional 584,509 shares during the period. Finally, Artemis Investment Management LLP boosted its position in shares of CROWN CASTLE IN/SH SH by 13,985.0% in the 3rd quarter. Artemis Investment Management LLP now owns 588,472 shares of the real estate investment trust’s stock valued at $65,512,000 after purchasing an additional 584,294 shares during the period. Institutional investors and hedge funds own 93.95% of the company’s stock.

About CROWN CASTLE IN/SH SH

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 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.

Featured Story: Do investors pay a separate front-end load every time they buy additional shares?

The Fly

Analyst Recommendations for CROWN CASTLE IN/SH SH (NYSE:CCI)

Receive News & Ratings for CROWN CASTLE IN/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CROWN CASTLE IN/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply