Crown Castle (NYSE:CCI) Price Target Cut to $100.00 by Analysts at Royal Bank of Canada

Crown Castle (NYSE:CCI) had its price target lowered by research analysts at Royal Bank of Canada from $109.00 to $100.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price suggests a potential upside of 3.34% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets reduced their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Scotiabank lowered their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Finally, Bank of America lowered their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $112.64.

Crown Castle Trading Up 0.9 %

Shares of NYSE CCI traded up $0.85 during mid-day trading on Tuesday, hitting $96.77. The company’s stock had a trading volume of 882,286 shares, compared to its average volume of 2,878,943. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. Crown Castle has a one year low of $84.72 and a one year high of $119.60. The stock has a market cap of $42.05 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.59 and a beta of 0.76. The company’s fifty day simple moving average is $102.18 and its 200-day simple moving average is $105.56.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The firm’s revenue was down 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Crown Castle will post 6.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crown Castle

Hedge funds and other institutional investors have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Crown Castle during the 4th quarter valued at about $25,000. Rational Advisors LLC purchased a new position in shares of Crown Castle during the first quarter valued at approximately $27,000. Richardson Financial Services Inc. bought a new stake in Crown Castle during the fourth quarter worth $30,000. Gables Capital Management Inc. boosted 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 last quarter. Finally, Valley National Advisers Inc. grew its stake in shares of Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Company Profile

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.