Analysts Set Crown Castle Inc. (NYSE:CCI) Target Price at $116.80

Shares of Crown Castle Inc. (NYSE:CCI) have been assigned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $116.87.

Several brokerages recently issued reports on CCI. TD Cowen cut their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group upped their target price on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th.

Crown Castle Stock Performance

CCI opened at $103.46 on Thursday. Crown Castle has a 1-year low of $92.48 and a 1-year high of $120.92. The stock has a market cap of $44.96 billion, a P/E ratio of 36.69 and a beta of 0.86. The stock’s 50 day simple moving average is $113.39 and its 200 day simple moving average is $106.09. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 earnings per share. As a group, equities analysts anticipate that Crown Castle will post 6.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. grew its stake in Crown Castle by 4,097.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock worth $246,617,000 after buying an additional 2,464,094 shares during the period. M&G Plc purchased a new stake in Crown Castle during the 1st quarter worth $221,573,000. Bank of Montreal Can boosted its position in Crown Castle by 191.7% during the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock worth $195,183,000 after purchasing an additional 1,335,644 shares during the period. Cooke & Bieler LP increased its holdings in Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after purchasing an additional 1,261,536 shares in the last quarter. Finally, Capital International Investors raised its position in Crown Castle by 68,262.1% in the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock valued at $131,239,000 after purchasing an additional 1,238,274 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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.