Traders Buy Shares of Crown Castle International (CCI) on Weakness

Traders purchased shares of Crown Castle International Corp. (NYSE:CCI) on weakness during trading hours on Thursday. $53.31 million flowed into the stock on the tick-up and $30.86 million flowed out of the stock on the tick-down, for a money net flow of $22.45 million into the stock. Of all companies tracked, Crown Castle International had the 25th highest net in-flow for the day. Crown Castle International traded down ($1.08) for the day and closed at $101.91

A number of brokerages have commented on CCI. Zacks Investment Research lowered Crown Castle International from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. Goldman Sachs lowered Crown Castle International from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, March 13th. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Crown Castle International in a research report on Friday, January 26th. ValuEngine upgraded Crown Castle International from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Deutsche Bank reissued a “buy” rating and issued a $120.00 price target on shares of Crown Castle International in a research note on Monday, January 22nd. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $114.75.

The company has a debt-to-equity ratio of 1.22, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $42.84 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.27 and a beta of 0.29.

Crown Castle International (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 18th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.98). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. Crown Castle International had a net margin of 8.87% and a return on equity of 4.06%. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. equities research analysts anticipate that Crown Castle International Corp. will post 5.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 4.12%. Crown Castle International’s payout ratio is presently 86.60%.

In other Crown Castle International news, Director Anthony J. Melone acquired 1,979 shares of the company’s stock in a transaction that occurred on Friday, April 27th. The shares were acquired at an average price of $101.06 per share, with a total value of $199,997.74. Following the purchase, the director now owns 10,547 shares of the company’s stock, valued at approximately $1,065,879.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Jay Simon sold 693 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $108.79, for a total value of $75,391.47. Following the sale, the senior vice president now directly owns 14,869 shares in the company, valued at approximately $1,617,598.51. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Avestar Capital LLC acquired a new stake in Crown Castle International during the 4th quarter worth $112,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in Crown Castle International during the 4th quarter worth $124,000. Icon Wealth Partners LLC acquired a new stake in Crown Castle International during the 4th quarter worth $126,000. Benjamin F. Edwards & Company Inc. raised its stake in Crown Castle International by 1,463.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 1,083 shares during the period. Finally, Signaturefd LLC acquired a new stake in Crown Castle International during the 1st quarter worth $134,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle International Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service bringing information, ideas and innovations to the people and businesses that need them.

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