Crown Castle (NYSE:CCI) Cut to “Hold” at Argus

Argus cut shares of Crown Castle (NYSE:CCIFree Report) from a buy rating to a hold rating in a report published on Friday, Marketbeat.com reports.

CCI has been the topic of a number of other research reports. Royal Bank of Canada raised their target price on Crown Castle from $92.00 to $109.00 and gave the company a sector perform rating in a report on Wednesday, February 21st. Jefferies Financial Group cut their price objective on Crown Castle from $126.00 to $123.00 and set a buy rating on the stock in a report on Thursday. Scotiabank cut their price objective on Crown Castle from $133.00 to $118.00 and set a sector perform rating on the stock in a report on Thursday. Finally, BMO Capital Markets cut their price objective on Crown Castle from $110.00 to $105.00 and set a market perform rating on the stock in a report on Thursday. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $115.50.

Get Our Latest Analysis on Crown Castle

Crown Castle Trading Up 0.9 %

Shares of NYSE:CCI opened at $95.20 on Friday. The company has a market capitalization of $41.37 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.54 and a beta of 0.73. Crown Castle has a 1 year low of $84.72 and a 1 year high of $131.43. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The business’s 50 day simple moving average is $104.88 and its 200 day simple moving average is $105.33.

Crown Castle (NYSE:CCIGet Free Report) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.91 EPS. On average, research analysts anticipate that Crown Castle will post 6.59 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.58%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is currently 195.63%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCI. Moors & Cabot Inc. raised its position in Crown Castle by 3.4% during the 1st quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock worth $505,000 after purchasing an additional 91 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Crown Castle by 33.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock worth $730,000 after acquiring an additional 991 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Crown Castle by 4,497.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock worth $1,052,000 after acquiring an additional 5,577 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Crown Castle by 12.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock worth $886,000 after acquiring an additional 525 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Crown Castle by 205.9% in the 1st quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 591 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Company Profile

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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.

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