CROWN CASTLE IN/SH SH (NYSE:CCI) Issues FY 2020 Earnings Guidance

CROWN CASTLE IN/SH SH (NYSE:CCI) updated its FY 2020 earnings guidance on Wednesday. The company provided EPS guidance of $6.28-6.38 for the period. CROWN CASTLE IN/SH SH also updated its FY 2019 guidance to $5.89-5.97 EPS.

Several research analysts have recently weighed in on CCI shares. SunTrust Banks increased their price objective on shares of CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the stock a buy rating in a report on Friday. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a neutral rating to an overweight rating and increased their price objective for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. Morgan Stanley increased their price objective on shares of CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the stock an overweight rating in a report on Thursday, September 19th. Bank of America reiterated a buy rating and set a $151.00 price objective (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. Finally, Citigroup cut their price objective on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a neutral rating on the stock in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $133.77.

NYSE CCI opened at $144.06 on Friday. CROWN CASTLE IN/SH SH has a one year low of $103.21 and a one year high of $149.47. The company’s 50 day moving average price is $140.35 and its 200 day moving average price is $133.81. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.76 and a current ratio of 0.72. The firm has a market capitalization of $58.03 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.60 and a beta of 0.27.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.09. CROWN CASTLE IN/SH SH had a net margin of 16.12% and a return on equity of 8.07%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $0.33 earnings per share. CROWN CASTLE IN/SH SH’s revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts forecast that CROWN CASTLE IN/SH SH will post 5.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $1.20 dividend. This is a positive change from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. The ex-dividend date is Thursday, December 12th. This represents a $4.80 annualized dividend and a yield of 3.33%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.

In other CROWN CASTLE IN/SH SH news, VP Robert Sean Collins sold 1,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $143.34, for a total value of $143,340.00. Following the completion of the sale, the vice president now owns 616 shares of the company’s stock, valued at $88,297.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Landis Martin acquired 16,300 shares of the stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $127.33 per share, with a total value of $2,075,479.00. Following the transaction, the director now directly owns 130,617 shares of the company’s stock, valued at $16,631,462.61. The disclosure for this purchase can be found here. Company insiders own 0.41% 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 70,000 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 IN/SH SH (NYSE:CCI)

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