Zacks Investment Research downgraded shares of Crown Castle International Corporation (NYSE:CCI) from a buy rating to a hold rating in a research report report published on Thursday.

According to Zacks, “Crown Castle reported impressive second-quarter 2017 financial results. Buyout of Wilcon Holdings will enable Crown Castle attain ownership over 28,000 route miles of fiber. Moreover, Crown Castle’s extensive tower portfolio, increased demand for infrastructure, healthy leasing activity, continual buyout of towers and growing demand for mobile broadband act as major positives. Crown Castle acquired 9,700 wireless towers from AT&T and 7,200 from T-Mobile US. The deployment of 5G network should drive growth on the company’s tower and small cell assets as the wireless carriers look to expand and enhance their networks. Over the past three months, the stock has outperformed the industry. However, high customer concentration, consolidated wireless industry, expenses related to technological changes and foreign currency exchange rate risks remain potent headwinds.”

Other equities analysts have also recently issued research reports about the company. Macquarie restated a buy rating and issued a $107.00 price target on shares of Crown Castle International Corporation in a report on Wednesday, July 19th. Jefferies Group LLC restated a buy rating and issued a $110.00 price target on shares of Crown Castle International Corporation in a report on Monday, July 10th. Deutsche Bank AG restated a buy rating and issued a $108.00 price target (up previously from $106.00) on shares of Crown Castle International Corporation in a report on Saturday, April 22nd. Royal Bank Of Canada restated a buy rating and issued a $107.00 price target on shares of Crown Castle International Corporation in a report on Tuesday, April 18th. Finally, Guggenheim upgraded Crown Castle International Corporation from a neutral rating to a buy rating and upped their price target for the stock from $91.00 to $101.00 in a report on Monday, April 10th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Crown Castle International Corporation presently has a consensus rating of Buy and a consensus price target of $104.95.

Shares of Crown Castle International Corporation (NYSE:CCI) opened at 100.58 on Thursday. The firm has a market cap of $36.82 billion, a PE ratio of 80.27 and a beta of 0.20. Crown Castle International Corporation has a one year low of $79.38 and a one year high of $104.68. The company has a 50-day moving average of $99.92 and a 200 day moving average of $94.87.

Crown Castle International Corporation (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Crown Castle International Corporation had a return on equity of 6.21% and a net margin of 11.14%. Crown Castle International Corporation’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. On average, equities research analysts expect that Crown Castle International Corporation will post $1.22 EPS for the current fiscal year.

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In related news, COO James D. Young sold 24,646 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $97.50, for a total transaction of $2,402,985.00. Following the sale, the chief operating officer now directly owns 140,006 shares of the company’s stock, valued at approximately $13,650,585. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Mckenzie sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $96.48, for a total value of $144,720.00. Following the sale, the director now directly owns 28,953 shares in the company, valued at $2,793,385.44. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Winslow Evans & Crocker Inc. raised its stake in Crown Castle International Corporation by 36.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 278 shares in the last quarter. Parallel Advisors LLC raised its stake in Crown Castle International Corporation by 261.5% in the first quarter. Parallel Advisors LLC now owns 1,276 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 923 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in Crown Castle International Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,391 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 10 shares in the last quarter. First Personal Financial Services raised its stake in Crown Castle International Corporation by 1,574.0% in the first quarter. First Personal Financial Services now owns 1,674 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 1,574 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Crown Castle International Corporation during the first quarter valued at about $165,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle International Corporation Company Profile

Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).

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Analyst Recommendations for Crown Castle International Corporation (NYSE:CCI)

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