Royal Bank of Canada Lowers Crown Castle (NYSE:CCI) Price Target to $100.00

Crown Castle (NYSE:CCI) had its price objective decreased by investment analysts at Royal Bank of Canada from $109.00 to $100.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 2.76% from the company’s current price.

CCI has been the subject of several other research reports. Barclays boosted their price objective on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 23rd. BMO Capital Markets dropped their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group decreased their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Scotiabank reduced their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.64.

Crown Castle Trading Up 1.2 %

Shares of CCI opened at $97.31 on Tuesday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $119.60. The firm has a 50 day moving average price of $101.99 and a 200-day moving average price of $105.63. The firm has a market cap of $42.28 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 2.59 and a beta of 0.76.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 earnings per share. As a group, equities research analysts forecast that Crown Castle will post 6.59 earnings per share for the current year.

Institutional Investors Weigh In On Crown Castle

Several hedge funds have recently bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $25,000. Rational Advisors LLC bought a new position in Crown Castle during the 1st quarter valued at approximately $27,000. Operose Advisors LLC purchased a new position in Crown Castle during the third quarter valued at $30,000. Gables Capital Management Inc. boosted its holdings in Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 164 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Crown Castle in the fourth quarter worth $30,000. Institutional investors own 90.77% of the company’s stock.

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.