CROWN CASTLE IN/SH SH (NYSE:CCI) Issues FY 2019 Earnings Guidance

CROWN CASTLE IN/SH SH (NYSE:CCI) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $5.79-5.89 for the period. CROWN CASTLE IN/SH SH also updated its FY19 guidance to $5.50-5.61 EPS.

A number of brokerages have issued reports on CCI. Wells Fargo & Co raised their price objective on shares of CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an outperform rating in a research note on Monday, April 15th. UBS Group cut shares of CROWN CASTLE IN/SH SH from a buy rating to a neutral rating and set a $130.00 price objective on the stock. in a research note on Thursday, April 11th. TheStreet raised shares of CROWN CASTLE IN/SH SH from a c+ rating to a b rating in a research note on Wednesday, January 23rd. Bank of America raised their price objective on shares of CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Finally, Morgan Stanley raised their price objective on shares of CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the company an overweight rating in a research note on Monday, March 11th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $122.50.

Shares of NYSE CCI traded up $1.65 during midday trading on Friday, reaching $125.68. 1,265,957 shares of the stock were exchanged, compared to its average volume of 1,694,973. The stock has a market cap of $52.25 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 1.43 and a beta of 0.40. CROWN CASTLE IN/SH SH has a 12 month low of $99.99 and a 12 month high of $130.60. The company has a quick ratio of 0.87, a current ratio of 0.76 and a debt-to-equity ratio of 1.91.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.93). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.39 billion. CROWN CASTLE IN/SH SH had a return on equity of 6.31% and a net margin of 13.82%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 earnings per share. On average, research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.59 EPS for the current fiscal year.

In related news, Director J Landis Martin acquired 18,350 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average cost of $123.13 per share, for a total transaction of $2,259,435.50. Following the completion of the acquisition, the director now directly owns 120,717 shares in the company, valued at approximately $14,863,884.21. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $120.06, for a total transaction of $300,150.00. Following the sale, the senior vice president now owns 38,471 shares in the company, valued at $4,618,828.26. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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About CROWN CASTLE IN/SH SH

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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Earnings History and Estimates for CROWN CASTLE IN/SH SH (NYSE:CCI)

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