Crown Castle (NYSE:CCI) Price Target Cut to $123.00

Crown Castle (NYSE:CCI) had its price objective decreased by research analysts at Jefferies Financial Group from $126.00 to $123.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 31.78% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on CCI. BMO Capital Markets cut their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday. Scotiabank decreased their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $119.40.

Crown Castle Trading Up 0.3 %

Crown Castle stock traded up $0.29 during trading on Thursday, reaching $93.34. 1,085,577 shares of the company were exchanged, compared to its average volume of 2,755,897. The stock’s 50 day simple moving average is $105.41 and its two-hundred day simple moving average is $105.15. The company has a market capitalization of $40.56 billion, a P/E ratio of 26.97, a PEG ratio of 2.50 and a beta of 0.73. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. Crown Castle has a 52-week low of $84.72 and a 52-week high of $134.09.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a return on equity of 21.95% and a net margin of 21.47%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The firm’s revenue was down 7.4% on a year-over-year basis. On average, equities research analysts expect that Crown Castle will post 6.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crown Castle

A number of large investors have recently modified their holdings of CCI. Riverview Trust Co increased its holdings in Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 140 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Crown Castle during the 4th quarter worth about $25,000. Almanack Investment Partners LLC. purchased a new stake in Crown Castle during the third quarter worth approximately $28,000. PCA Investment Advisory Services Inc. acquired a new position in Crown Castle in the second quarter valued at approximately $29,000. Finally, Operose Advisors LLC purchased a new position in Crown Castle in the third quarter valued at approximately $30,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.