CROWN CASTLE IN/SH SH (NYSE:CCI) Issues Quarterly Earnings Results

CROWN CASTLE IN/SH SH (NYSE:CCI) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.85), RTT News reports. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 earnings per share. CROWN CASTLE IN/SH SH updated its FY 2019 guidance to $5.89-5.97 EPS and its FY19 guidance to $5.66-5.73 EPS.

CROWN CASTLE IN/SH SH stock opened at $125.48 on Friday. The firm has a market cap of $52.75 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 1.46 and a beta of 0.33. CROWN CASTLE IN/SH SH has a 1 year low of $103.21 and a 1 year high of $137.85. The stock’s 50-day moving average is $133.24. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.76 and a quick ratio of 0.76.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $1.125 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $4.50 annualized dividend and a dividend yield of 3.59%. CROWN CASTLE IN/SH SH’s payout ratio is currently 82.12%.

Several analysts have weighed in on CCI shares. UBS Group reissued a “buy” rating and set a $70.00 price objective on shares of Lumentum in a report on Thursday, April 11th. New Street Research cut CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price objective for the company. in a report on Thursday, June 13th. Morgan Stanley boosted their price objective on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Guggenheim cut Anadarko Petroleum from a “buy” rating to a “hold” rating and set a $69.00 price objective for the company. in a report on Friday, April 12th. Finally, Wells Fargo & Co boosted their price objective on Sempra Energy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $122.33.

In related news, Director J Landis Martin bought 18,350 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was bought at an average cost of $123.13 per share, for a total transaction of $2,259,435.50. Following the transaction, the director now owns 120,717 shares of the company’s stock, valued at $14,863,884.21. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert Sean Collins sold 1,200 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total value of $150,228.00. Following the transaction, the vice president now owns 1,616 shares of the company’s stock, valued at $202,307.04. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Lenox Wealth Management Inc. grew its position in shares of CROWN CASTLE IN/SH SH by 2,222.2% in the 1st quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 200 shares during the period. CX Institutional grew its position in shares of CROWN CASTLE IN/SH SH by 160.7% in the 1st quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 143 shares during the period. Truewealth LLC grew its position in shares of CROWN CASTLE IN/SH SH by 48.0% in the 1st quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 83 shares during the period. Covington Capital Management acquired a new position in CROWN CASTLE IN/SH SH during the 4th quarter worth approximately $29,000. Finally, Braun Bostich & Associates Inc. acquired a new position in CROWN CASTLE IN/SH SH during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

About CROWN CASTLE IN/SH SH

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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Earnings History for CROWN CASTLE IN/SH SH (NYSE:CCI)

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