Crown Castle International (NYSE:CCI) Updates FY 2021 Earnings Guidance
Crown Castle International (NYSE:CCI) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of 6.740-6.850 for the period. The company issued revenue guidance of -.
Several equities analysts have weighed in on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Crown Castle International from a neutral rating to a buy rating and set a $170.00 price objective for the company in a report on Thursday, January 14th. JPMorgan Chase & Co. increased their price objective on Crown Castle International from $189.00 to $200.00 and gave the company an overweight rating in a report on Thursday, April 29th. Jefferies Financial Group assumed coverage on Crown Castle International in a report on Monday, April 19th. They set a buy rating and a $205.00 price objective for the company. Royal Bank of Canada increased their price objective on Crown Castle International from $176.00 to $210.00 and gave the company an outperform rating in a report on Monday. Finally, Credit Suisse Group dropped their target price on Crown Castle International from $158.00 to $155.00 and set a neutral rating on the stock in a research report on Friday, January 29th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $187.57.
Shares of CCI stock traded down $2.89 on Tuesday, reaching $184.81. The company’s stock had a trading volume of 64,032 shares, compared to its average volume of 2,157,399. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.02. Crown Castle International has a 12-month low of $146.15 and a 12-month high of $189.59. The company has a market capitalization of $79.87 billion, a P/E ratio of 117.31, a PEG ratio of 1.18 and a beta of 0.30. The stock’s 50 day simple moving average is $176.08 and its 200-day simple moving average is $163.87.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were given a dividend of $1.33 per share. The ex-dividend date was Friday, March 12th. This represents a $5.32 dividend on an annualized basis and a yield of 2.88%. Crown Castle International’s payout ratio is 93.50%.
In other Crown Castle International news, EVP Michael Joseph Kavanagh sold 3,796 shares of the firm’s stock in a transaction dated Thursday, February 25th. The stock was sold at an average price of $161.22, for a total transaction of $611,991.12. Also, EVP Kenneth Jay Simon sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of $150.77, for a total value of $904,620.00. Following the sale, the executive vice president now owns 76,407 shares in the company, valued at approximately $11,519,883.39. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 5,780 shares of company stock worth $925,528 and have sold 14,796 shares worth $2,270,261. Company insiders own 0.47% of the company’s stock.
About Crown Castle International
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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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