CROWN CASTLE IN/SH SH (NYSE:CCI) Releases FY19 Earnings Guidance

CROWN CASTLE IN/SH SH (NYSE:CCI) updated its FY19 earnings guidance on Wednesday. The company provided EPS guidance of $5.50-5.61 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.60. CROWN CASTLE IN/SH SH also updated its FY 2019 guidance to $5.79-5.89 EPS.

Several brokerages recently commented on CCI. Wells Fargo & Co increased their target price on shares of CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an outperform rating in a report on Monday, April 15th. Guggenheim cut shares of CROWN CASTLE IN/SH SH from a buy rating to a neutral rating in a report on Friday, April 12th. They noted that the move was a valuation call. UBS Group cut shares of CROWN CASTLE IN/SH SH from a buy rating to a neutral rating and set a $130.00 target price for the company. in a report on Thursday, April 11th. Bank of America upped their price target on shares of CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. Finally, Deutsche Bank lowered shares of CROWN CASTLE IN/SH SH from a buy rating to a hold rating and set a $121.00 price target on the stock. in a research report on Monday, March 18th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $122.50.

Shares of CCI traded up $1.65 during trading hours on Friday, hitting $125.68. The company had a trading volume of 1,265,957 shares, compared to its average volume of 1,694,973. The firm has a market capitalization of $52.25 billion, a PE ratio of 22.93, a PEG 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 debt-to-equity ratio of 1.91, a current ratio of 0.76 and a quick ratio of 0.87.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.93). The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.39 billion. CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. CROWN CASTLE IN/SH SH’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. Analysts predict that CROWN CASTLE IN/SH SH will post 5.59 earnings per share for the current fiscal year.

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

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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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