Crown Castle International (NYSE:CCI) Releases FY 2022 Earnings Guidance

Crown Castle International (NYSE:CCI – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $7.310-$7.410 for the period. The company issued revenue guidance of -.

CCI has been the subject of several recent research reports. Bank of America lifted their price target on Crown Castle International from $200.00 to $224.00 and gave the company a buy rating in a research report on Monday, January 3rd. Barclays decreased their target price on shares of Crown Castle International from €222.00 ($238.71) to €214.00 ($230.11) in a research note on Friday, March 18th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Crown Castle International from $209.00 to $204.00 and set a buy rating for the company in a research note on Thursday, February 3rd. Citigroup boosted their target price on shares of Crown Castle International from $200.00 to $204.00 in a research note on Thursday, January 27th. Finally, JPMorgan Chase & Co. cut shares of Crown Castle International from an overweight rating to a neutral rating and set a $200.00 target price for the company. in a research note on Wednesday, January 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Buy and a consensus price target of $201.08.

NYSE:CCI traded up $6.98 during trading hours on Wednesday, reaching $197.93. 1,437,981 shares of the company were exchanged, compared to its average volume of 1,922,410. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.49. The stock’s 50-day moving average is $177.85 and its 200-day moving average is $182.56. The firm has a market cap of $85.71 billion, a PE ratio of 72.61, a price-to-earnings-growth ratio of 2.74 and a beta of 0.56. Crown Castle International has a twelve month low of $157.16 and a twelve month high of $209.87.

Crown Castle International (NYSE:CCI – Get Rating) last released its earnings results on Tuesday, January 25th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. Crown Castle International had a net margin of 18.28% and a return on equity of 13.46%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Crown Castle International will post 7.04 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Monday, March 14th. Crown Castle International’s payout ratio is 220.23%.

In related news, COO Catherine Piche sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $176.41, for a total value of $441,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin A. Stephens acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was purchased at an average cost of $162.30 per share, with a total value of $324,600.00. The disclosure for this purchase can be found here. 0.45% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CCI. Morgan Stanley boosted its stake in Crown Castle International by 9.9% during the second quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock worth $1,860,558,000 after buying an additional 856,986 shares during the period. NewEdge Advisors LLC boosted its stake in Crown Castle International by 858.2% during the fourth quarter. NewEdge Advisors LLC now owns 13,616 shares of the real estate investment trust’s stock worth $2,842,000 after buying an additional 12,195 shares during the period. Vident Investment Advisory LLC boosted its stake in Crown Castle International by 50.3% during the fourth quarter. Vident Investment Advisory LLC now owns 13,576 shares of the real estate investment trust’s stock worth $2,834,000 after buying an additional 4,544 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Crown Castle International during the fourth quarter worth about $619,000. Finally, Autumn Glory Partners LLC purchased a new position in Crown Castle International during the fourth quarter worth about $316,000. 91.20% of the stock is owned by hedge funds and other institutional investors.

Crown Castle International Company Profile (Get Rating)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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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