Crown Castle (NYSE:CCI) Sets New 52-Week Low – What’s Next?

Crown Castle Inc. (NYSE:CCI) hit a new 52-week low during trading on Thursday . The stock traded as low as $91.86 and last traded at $92.35, with a volume of 234508 shares traded. The stock had previously closed at $92.90.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CCI shares. The Goldman Sachs Group lifted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Barclays lifted their price target on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Jefferies Financial Group raised their price objective on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. 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 report on Monday, October 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $117.00.

Crown Castle Stock Down 0.7 %

The company’s 50-day moving average price is $105.55 and its 200 day moving average price is $107.03. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market cap of $40.08 billion, a PE ratio of 32.71 and a beta of 0.86.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the company earned $1.77 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. As a group, analysts forecast that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.79%. Crown Castle’s payout ratio is currently 221.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle in the third quarter worth approximately $25,000. Asset Dedication LLC raised its stake in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the period. New Millennium Group LLC bought a new stake in Crown Castle during the 2nd quarter valued at $34,000. Finally, Quest Partners LLC increased its holdings in shares of Crown Castle by 3,672.7% in the 2nd quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 404 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.