Wells Fargo & Company Has Lowered Expectations for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its target price lowered by stock analysts at Wells Fargo & Company from $115.00 to $105.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 17.65% from the stock’s previous close.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. lowered their target price on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Citigroup lowered their price objective on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Barclays reiterated an “equal weight” rating and issued a $101.00 target price (down from $104.00) on shares of Crown Castle in a report on Monday, December 1st. The Goldman Sachs Group boosted their price target on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Finally, UBS Group reissued a “buy” rating and set a $127.00 target price on shares of Crown Castle in a research note on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.00.

Crown Castle Trading Down 0.3%

CCI opened at $89.25 on Tuesday. The company has a market cap of $38.87 billion, a P/E ratio of -8.39, a PEG ratio of 0.67 and a beta of 0.94. Crown Castle has a 1-year low of $84.20 and a 1-year high of $115.76. The company’s 50 day moving average is $92.63 and its 200-day moving average is $97.85.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts forecast that Crown Castle will post 6.67 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the sale, the executive vice president owned 65,571 shares in the company, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Crown Castle

A number of large investors have recently bought and sold shares of CCI. Swiss Life Asset Management Ltd boosted its position in Crown Castle by 15.4% during the third quarter. Swiss Life Asset Management Ltd now owns 88,679 shares of the real estate investment trust’s stock worth $8,557,000 after purchasing an additional 11,858 shares during the period. Groupama Asset Managment purchased a new stake in Crown Castle during the 3rd quarter worth about $1,270,000. Polar Asset Management Partners Inc. purchased a new stake in Crown Castle during the 3rd quarter worth about $7,500,000. Investment Research Partners LLC bought a new position in Crown Castle in the 3rd quarter worth about $312,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in Crown Castle during the 3rd quarter valued at about $31,000. 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.