Crown Castle International (NYSE:CCI) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Crown Castle International (NYSE:CCI) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.08, MarketWatch Earnings reports. Crown Castle International had a net margin of 16.80% and a return on equity of 10.52%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis.

Shares of NYSE CCI traded down $9.09 during mid-day trading on Thursday, reaching $192.01. The company had a trading volume of 137,703 shares, compared to its average volume of 1,266,765. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 2.21. The stock has a 50 day simple moving average of $194.68. The stock has a market cap of $82.98 billion, a PE ratio of 89.78, a P/E/G ratio of 1.49 and a beta of 0.37. Crown Castle International has a 52-week low of $146.15 and a 52-week high of $204.62.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Monday, June 14th were issued a $1.33 dividend. The ex-dividend date of this dividend was Friday, June 11th. This represents a $5.32 dividend on an annualized basis and a dividend yield of 2.77%. Crown Castle International’s payout ratio is 78.47%.

In other Crown Castle International news, VP Robert Sean Collins sold 700 shares of the firm’s stock in a transaction on Thursday, May 27th. The shares were sold at an average price of $188.67, for a total transaction of $132,069.00. Following the transaction, the vice president now directly owns 6,299 shares of the company’s stock, valued at approximately $1,188,432.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin A. Stephens acquired 310 shares of the stock in a transaction on Friday, May 14th. The shares were acquired at an average cost of $181.53 per share, for a total transaction of $56,274.30. Following the completion of the transaction, the director now directly owns 5,487 shares in the company, valued at approximately $996,055.11. The disclosure for this purchase can be found here. Company insiders own 0.45% of the company’s stock.

CCI has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Crown Castle International from $189.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Wolfe Research initiated coverage on shares of Crown Castle International in a report on Wednesday, March 24th. They issued a “peer perform” rating and a $165.00 price objective on the stock. Oppenheimer upped their price objective on shares of Crown Castle International from $170.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, May 3rd. KeyCorp upped their price objective on shares of Crown Castle International from $207.00 to $224.00 and gave the stock an “overweight” rating in a report on Monday. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crown Castle International from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, June 11th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Crown Castle International has an average rating of “Buy” and an average price target of $189.54.

About Crown Castle International

Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

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Earnings History for Crown Castle International (NYSE:CCI)

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