Analysts Expect Crown Castle International Corp. (REIT) (CCI) Will Announce Quarterly Sales of $1.31 Billion

Wall Street analysts expect Crown Castle International Corp. (REIT) (NYSE:CCI) to announce $1.31 billion in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Crown Castle International’s earnings. The lowest sales estimate is $1.30 billion and the highest is $1.34 billion. Crown Castle International reported sales of $1.02 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 28.4%. The business is expected to announce its next earnings report on Monday, April 23rd.

On average, analysts expect that Crown Castle International will report full year sales of $1.31 billion for the current financial year, with estimates ranging from $5.29 billion to $5.42 billion. For the next fiscal year, analysts expect that the company will report sales of $5.66 billion per share, with estimates ranging from $5.60 billion to $5.73 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Crown Castle International.

Crown Castle International (NYSE:CCI) last released its quarterly earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.84). The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.14 billion. Crown Castle International had a return on equity of 4.95% and a net margin of 10.21%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 EPS.

CCI has been the subject of several research analyst reports. UBS Group cut Crown Castle International from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Barclays boosted their price objective on Crown Castle International from $101.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Oppenheimer reissued a “market perform” rating on shares of Crown Castle International in a research report on Monday, October 16th. Macquarie reissued a “buy” rating and set a $119.00 price objective on shares of Crown Castle International in a research report on Sunday, October 22nd. Finally, CIBC reissued a “market perform” rating on shares of Crown Castle International in a research report on Monday, October 16th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $113.33.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GM Advisory Group Inc. acquired a new position in shares of Crown Castle International in the 4th quarter worth approximately $305,000. Baird Financial Group Inc. raised its holdings in shares of Crown Castle International by 4.8% in the 4th quarter. Baird Financial Group Inc. now owns 11,036 shares of the real estate investment trust’s stock worth $1,225,000 after buying an additional 507 shares in the last quarter. Norinchukin Bank The raised its holdings in shares of Crown Castle International by 7.4% in the 4th quarter. Norinchukin Bank The now owns 32,483 shares of the real estate investment trust’s stock worth $3,606,000 after buying an additional 2,245 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Crown Castle International by 37.7% in the 4th quarter. Synovus Financial Corp now owns 4,711 shares of the real estate investment trust’s stock worth $522,000 after buying an additional 1,291 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of Crown Castle International by 1.7% in the 4th quarter. American International Group Inc. now owns 178,344 shares of the real estate investment trust’s stock worth $19,798,000 after buying an additional 2,939 shares in the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

Crown Castle International (CCI) traded up $0.05 on Wednesday, hitting $103.86. The stock had a trading volume of 3,670,325 shares, compared to its average volume of 2,730,000. The company has a market cap of $42,180.00, a P/E ratio of 102.83, a PEG ratio of 1.28 and a beta of 0.26. Crown Castle International has a 52 week low of $86.93 and a 52 week high of $114.97. The company has a debt-to-equity ratio of 1.30, a quick ratio of 7.13 and a current ratio of 0.88.

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Crown Castle International 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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Earnings History and Estimates for Crown Castle International (NYSE:CCI)

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