Crown Castle (NYSE:CCI – Get Free Report) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04, Yahoo Finance reports. Crown Castle had a net margin of 17.98% and a return on equity of 18.66%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $2.05 earnings per share. The company’s revenue was down 12.9% on a year-over-year basis. Crown Castle updated its FY24 guidance to $6.91-7.02 EPS.
Crown Castle Stock Performance
Shares of CCI stock traded down $0.58 during midday trading on Friday, hitting $104.46. 627,310 shares of the company were exchanged, compared to its average volume of 2,772,512. The firm has a market capitalization of $45.39 billion, a P/E ratio of 32.54, a PEG ratio of 2.80 and a beta of 0.83. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. The firm’s 50 day moving average price is $99.51 and its two-hundred day moving average price is $103.27. Crown Castle has a 52 week low of $84.72 and a 52 week high of $119.50.
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 issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.99%. The ex-dividend date was Friday, June 14th. Crown Castle’s payout ratio is 195.63%.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on CCI
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.
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