FY2017 EPS Estimates for Crown Castle International Corp. (REIT) (CCI) Cut by SunTrust Banks
Crown Castle International Corp. (REIT) (NYSE:CCI) – Analysts at SunTrust Banks lowered their FY2017 EPS estimates for shares of Crown Castle International in a report released on Wednesday. SunTrust Banks analyst G. Miller now expects that the real estate investment trust will earn $4.41 per share for the year, down from their previous estimate of $4.43. SunTrust Banks also issued estimates for Crown Castle International’s Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.36 EPS and FY2018 earnings at $5.37 EPS.
Other equities research analysts also recently issued research reports about the stock. BidaskClub raised shares of Crown Castle International from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. Citigroup upped their target price on shares of Crown Castle International from $96.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, August 28th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $107.00 target price on shares of Crown Castle International in a report on Tuesday, August 29th. Bank of America upped their target price on shares of Crown Castle International from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, September 8th. Finally, Zacks Investment Research raised shares of Crown Castle International from a “hold” rating to a “strong-buy” rating and set a $120.00 target price for the company in a report on Wednesday, September 20th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $110.58.
Shares of Crown Castle International (NYSE:CCI) opened at $110.91 on Monday. The firm has a market cap of $44,487.13, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.60 and a beta of 0.22. The company has a debt-to-equity ratio of 1.19, a quick ratio of 7.13 and a current ratio of 7.13. Crown Castle International has a 12 month low of $83.96 and a 12 month high of $114.97.
Crown Castle International (NYSE:CCI) last announced its earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.07). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Crown Castle International had a net margin of 11.35% and a return on equity of 5.93%. Crown Castle International’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $1.05 dividend. This is a positive change from Crown Castle International’s previous quarterly dividend of $0.95. This represents a $4.20 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, December 14th. Crown Castle International’s dividend payout ratio is 316.67%.
In other news, VP Philip M. Kelley sold 10,551 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $113.09, for a total transaction of $1,193,212.59. Following the transaction, the vice president now directly owns 91,808 shares of the company’s stock, valued at $10,382,566.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Crown Castle International by 3.8% in the second quarter. Vanguard Group Inc. now owns 24,372,787 shares of the real estate investment trust’s stock valued at $2,441,666,000 after acquiring an additional 891,908 shares in the last quarter. BlackRock Inc. boosted its stake in Crown Castle International by 4.2% in the second quarter. BlackRock Inc. now owns 24,254,770 shares of the real estate investment trust’s stock valued at $2,429,841,000 after acquiring an additional 975,757 shares in the last quarter. Capital World Investors raised its holdings in shares of Crown Castle International by 12.6% in the second quarter. Capital World Investors now owns 23,132,825 shares of the real estate investment trust’s stock worth $2,317,446,000 after buying an additional 2,584,490 shares during the last quarter. Capital International Investors raised its holdings in shares of Crown Castle International by 10.4% in the second quarter. Capital International Investors now owns 8,445,600 shares of the real estate investment trust’s stock worth $846,080,000 after buying an additional 793,400 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Crown Castle International by 3.0% in the third quarter. Jennison Associates LLC now owns 8,042,148 shares of the real estate investment trust’s stock worth $804,054,000 after buying an additional 236,039 shares during the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.
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About Crown Castle International
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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