Raymond James Financial Lowers Crown Castle (NYSE:CCI) Price Target to $106.00

Crown Castle (NYSE:CCI) had its price objective lowered by equities research analysts at Raymond James Financial from $120.00 to $106.00 in a report released on Friday,MarketScreener reports. The firm presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James Financial’s target price indicates a potential upside of 22.43% from the stock’s current price.

A number of other equities research analysts have also commented on CCI. The Goldman Sachs Group dropped their target price on Crown Castle from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, January 16th. JPMorgan Chase & Co. dropped their price objective on shares of Crown Castle from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Jefferies Financial Group reduced their target price on shares of Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Scotiabank lowered their price target on shares of Crown Castle from $114.00 to $96.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Finally, Wells Fargo & Company decreased their price target on Crown Castle from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.75.

Crown Castle Trading Up 0.5%

NYSE:CCI opened at $86.58 on Friday. Crown Castle has a twelve month low of $83.21 and a twelve month high of $115.76. The company has a market cap of $37.70 billion, a PE ratio of -8.14, a P/E/G ratio of 0.55 and a beta of 0.96. The company’s 50 day moving average is $88.59 and its two-hundred day moving average is $95.25.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 EPS. As a group, analysts expect that Crown Castle will post 6.67 EPS for the current fiscal year.

Institutional Trading of Crown Castle

Several large investors have recently made changes to their positions in CCI. Winnow Wealth LLC acquired a new stake in Crown Castle in the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in Crown Castle during the second quarter worth $27,000. NewSquare Capital LLC boosted its stake in shares of Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in Crown Castle in the 3rd quarter valued at about $29,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.