Crown Castle International (NYSE:CCI) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Crown Castle International (NYSE:CCI) issued its earnings results on Tuesday. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.08, MarketWatch Earnings reports. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Crown Castle International had a net margin of 16.80% and a return on equity of 10.52%. Crown Castle International’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share.

NYSE CCI traded down $8.87 during trading hours on Thursday, reaching $192.23. 43,681 shares of the company were exchanged, compared to its average volume of 1,266,765. Crown Castle International has a 1 year low of $146.15 and a 1 year high of $204.62. The firm has a 50 day simple moving average of $194.68. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 2.21. The company has a market cap of $83.08 billion, a PE ratio of 89.78, a P/E/G ratio of 1.49 and a beta of 0.37.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Monday, June 14th were issued a dividend of $1.33 per share. The ex-dividend date of this dividend was Friday, June 11th. This represents a $5.32 dividend on an annualized basis and a yield of 2.77%. Crown Castle International’s dividend payout ratio (DPR) is presently 78.47%.

In other Crown Castle International news, VP Robert Sean Collins sold 700 shares of the stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $188.67, for a total transaction of $132,069.00. Following the completion of the transaction, the vice president now owns 6,299 shares in the company, valued at $1,188,432.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin A. Stephens bought 310 shares of the business’s stock in a transaction on Friday, May 14th. The shares were acquired at an average price of $181.53 per share, with a total value of $56,274.30. Following the transaction, the director now directly owns 5,487 shares of the company’s stock, valued at $996,055.11. The disclosure for this purchase can be found here. Company insiders own 0.45% of the company’s stock.

Several research firms have weighed in on CCI. Citigroup downgraded shares of Crown Castle International from a “buy” rating to a “neutral” rating in a report on Tuesday, July 13th. Jefferies Financial Group began coverage on shares of Crown Castle International in a report on Monday, April 12th. They set a “buy” rating and a $205.00 price objective on the stock. Morgan Stanley upgraded shares of Crown Castle International from an “in-line” rating to an “overweight” rating and upped their price objective for the stock from $200.00 to $204.00 in a report on Wednesday, June 2nd. JPMorgan Chase & Co. increased their target price on shares of Crown Castle International from $189.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Finally, Wolfe Research assumed coverage on shares of Crown Castle International in a report on Wednesday, March 24th. They issued a “peer perform” rating and a $165.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Crown Castle International presently has a consensus rating of “Buy” and a consensus target price of $189.54.

About Crown Castle International

Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

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Earnings History for Crown Castle International (NYSE:CCI)

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