Crown Castle (NYSE:CCI) Receives New Coverage from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Crown Castle (NYSE:CCI) in a report published on Monday, Benzinga reports. The brokerage issued a neutral rating and a $104.00 price objective on the real estate investment trust’s stock.

A number of other brokerages also recently weighed in on CCI. BMO Capital Markets reduced their target price on Crown Castle from $110.00 to $105.00 and set a market perform rating on the stock in a report on Thursday, April 18th. Raymond James reaffirmed an outperform rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Barclays raised their target price on Crown Castle from $111.00 to $112.00 and gave the company an equal weight rating in a report on Tuesday, April 23rd. Wells Fargo & Company dropped their price target on Crown Castle from $115.00 to $100.00 and set an equal weight rating for the company in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Crown Castle from $110.00 to $109.00 and set a hold rating for the company in a research note on Monday, April 22nd. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $113.53.

Crown Castle Trading Down 1.8 %

Shares of NYSE:CCI opened at $95.98 on Monday. The company has a market capitalization of $41.71 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.59 and a beta of 0.83. Crown Castle has a 1 year low of $84.72 and a 1 year high of $119.50. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The business’s 50 day simple moving average is $98.42 and its 200 day simple moving average is $104.59.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.91 EPS. On average, research analysts anticipate that Crown Castle will post 6.62 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.52%. The ex-dividend date was Friday, June 14th. Crown Castle’s dividend payout ratio is currently 195.63%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Crown Castle during the 4th quarter worth about $25,000. Rational Advisors LLC acquired a new stake in Crown Castle during the 1st quarter worth about $27,000. EntryPoint Capital LLC acquired a new stake in Crown Castle during the 1st quarter worth about $27,000. Gables Capital Management Inc. grew its holdings in Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 164 shares during the period. Finally, Richardson Financial Services Inc. acquired a new stake in Crown Castle during the 4th quarter worth about $30,000. 90.77% of the stock is owned by 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.