Investment Analysts’ Recent Ratings Changes for Crown Castle International Corporation (CCI)

Several brokerages have updated their recommendations and price targets on shares of Crown Castle International Corporation (NYSE: CCI) in the last few weeks:

  • 10/31/2017 – Crown Castle International Corporation had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 10/24/2017 – Crown Castle International Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Crown Castle’s efforts to diversify its business from a tower operator to a fiber provider looks impressive. 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. Crown Castle’s extensive tower portfolio, increased demand for infrastructure, healthy leasing activity, continual buyout of towers and growing demand for mobile broadband are other positives. Over the past three months, the stock price grew 4.4% as against the industry's 0.2% gain. Crown Castle has raised its outlook for 2017 despite reporting weak third-quarter 2017 financial results. Also, the company continues to face headwinds like high customer concentration and consolidated wireless industry, which is likely to affect the company's top line. Evolution of new technologies may reduce the demand for site leases and increase the expenses.”
  • 10/23/2017 – Crown Castle International Corporation had its price target raised by analysts at Wells Fargo & Company from $112.50 to $116.00. They now have an “outperform” rating on the stock.
  • 10/22/2017 – Crown Castle International Corporation had its “buy” rating reaffirmed by analysts at Macquarie. They now have a $119.00 price target on the stock. They wrote, “We assign a slightly lower multiple to reflect the fiber business which is characterized by higher churn/lower growth vs Crown’s legacy business. Our TP goes to US$119 from US$107 based on a blended multiple of 19x our ‘19E AFFO/sh. Impact For the first time in 1+ years, results did not come in at the high-end of consensus estimates; we model 4Q AFFO/sh of US$1.06, in line with guidance. #1 As expected, ’18 guidance came in to set domestic standards for the industry. Crown was the first to give us a sneak peek into ’18 expectations which reflect 29-30%, 9-16%, and 17-20% site rental revenue, adj. EBITDA, and AFFO/sh growth (based on the mid-point of ’17 guidance). Our estimates are in line with guidance (Fig.””
  • 10/20/2017 – Crown Castle International Corporation had its price target raised by analysts at Barclays PLC from $101.00 to $105.00. They now have an “equal weight” rating on the stock.
  • 10/16/2017 – Crown Castle International Corporation was downgraded by analysts at UBS AG from an “outperform” rating to a “market perform” rating.
  • 10/16/2017 – Crown Castle International Corporation had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 10/16/2017 – Crown Castle International Corporation had its “market perform” rating reaffirmed by analysts at CIBC.
  • 10/10/2017 – Crown Castle International Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the past one month, share price of Crown Castle declined 4.5% as against the industry's loss of 2.4%. Moreover, the company continues to face headwinds like high customer concentration, and consolidated wireless industry, which is likely to affect the company's top line. Evolution of new technologies may reduce the demand for site leases and the expenses related, also raises concern. On the flip side, 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. Buyout of Wilcon Holdings will enable Crown Castle attain ownership over 28,000 route miles of fiber. 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.”
  • 9/25/2017 – Crown Castle International Corporation was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “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. Buyout of Wilcon Holdings will enable Crown Castle attain ownership over 28,000 route miles of fiber. Moreover, 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 price gained 0.9% as against the industry’s loss of 2.8%. However, the company continues to face headwinds like high customer concentration, and consolidated wireless industry, which is likely to affect the company's top line. Evolution of new technologies may reduce the demand for site leases and the expenses related, also raises concern.”
  • 9/23/2017 – Crown Castle International Corporation had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $112.00 price target on the stock, up previously from $105.00.
  • 9/20/2017 – Crown Castle International Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $120.00 price target on the stock. According to Zacks, “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. Buyout of Wilcon Holdings will enable Crown Castle attain ownership over 28,000 route miles of fiber. Moreover, 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 price gained 2.7% as against the industry’s gain of 0.1%. However, the company continues to face headwinds like high customer concentration, and consolidated wireless industry, which is likely to affect the company's top line. Evolution of new technologies may reduce the demand for site leases and the expenses related, also raises concern.”
  • 9/8/2017 – Crown Castle International Corporation had its price target raised by analysts at Bank of America Corporation from $107.00 to $114.00. They now have a “buy” rating on the stock.

Shares of Crown Castle International Corporation (NYSE:CCI) traded down 1.51% during mid-day trading on Wednesday, reaching $105.46. The company had a trading volume of 1,466,756 shares. The company has a market capitalization of $42.84 billion, a PE ratio of 84.17 and a beta of 0.16. The stock’s 50-day moving average price is $102.56 and its 200 day moving average price is $101.00. Crown Castle International Corporation has a 1-year low of $79.38 and a 1-year high of $110.66.

Crown Castle International Corporation (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.07). The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Crown Castle International Corporation had a return on equity of 5.93% and a net margin of 11.35%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Equities analysts expect that Crown Castle International Corporation will post $1.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $4.20 dividend on an annualized basis and a yield of 3.92%. This is a positive change from Crown Castle International Corporation’s previous quarterly dividend of $0.95. Crown Castle International Corporation’s payout ratio is 316.67%.

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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