Raymond James Financial Issues Pessimistic Forecast for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its price objective decreased by equities researchers at Raymond James Financial from $120.00 to $106.00 in a report released on Friday,MarketScreener reports. The brokerage presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James Financial’s price objective points to a potential upside of 22.43% from the company’s current price.

Other research analysts also recently issued research reports about the company. KeyCorp reduced their target price on Crown Castle from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group cut their target price on shares of Crown Castle from $127.00 to $116.00 and set a “buy” rating for the company in a research report on Tuesday. New Street Research cut shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research note on Monday, January 5th. Scotiabank cut their price target on Crown Castle from $114.00 to $96.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Finally, Citigroup reduced their target price on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and an average target price of $106.75.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $86.58 on Friday. The firm has a market capitalization of $37.70 billion, a PE ratio of -8.14, a price-to-earnings-growth ratio of 0.55 and a beta of 0.96. Crown Castle has a 52-week low of $83.21 and a 52-week high of $115.76. The firm has a fifty day moving average of $88.59 and a 200 day moving average of $95.25.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, sell-side analysts forecast that Crown Castle will post 6.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Country Club Bank lifted its holdings in Crown Castle by 20.1% during the third quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock worth $6,808,000 after buying an additional 11,851 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in shares of Crown Castle during the third quarter valued at about $2,578,000. AlphaCore Capital LLC lifted its position in shares of Crown Castle by 213.8% during the second quarter. AlphaCore Capital LLC now owns 11,152 shares of the real estate investment trust’s stock valued at $1,146,000 after buying an additional 7,598 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Crown Castle by 3,051.5% in the second quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock valued at $562,221,000 after acquiring an additional 5,299,155 shares in the last quarter. Finally, ARS Investment Partners LLC grew its holdings in Crown Castle by 22.7% in the third quarter. ARS Investment Partners LLC now owns 95,685 shares of the real estate investment trust’s stock worth $9,233,000 after purchasing an additional 17,690 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.