Crown Castle (CCI) to Release Quarterly Earnings on Wednesday

Crown Castle (NYSE:CCI) is scheduled to post its quarterly earnings results after the market closes on Wednesday, October 16th. Analysts expect Crown Castle to post earnings of $1.72 per share for the quarter. Crown Castle has set its FY24 guidance at $6.91-7.02 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. On average, analysts expect Crown Castle to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Crown Castle Price Performance

CCI stock opened at $110.81 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The company has a market capitalization of $48.15 billion, a PE ratio of 40.59 and a beta of 0.85. Crown Castle has a 12-month low of $84.72 and a 12-month high of $120.92. The business’s fifty day moving average price is $113.84 and its 200 day moving average price is $104.82.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.65%. Crown Castle’s dividend payout ratio (DPR) is 229.30%.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCI shares. TD Cowen raised their target price on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. BMO Capital Markets raised their price target on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Barclays raised their price target on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday. Bank of America lifted their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $115.67.

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.