CROWN CASTLE IN/SH SH (NYSE:CCI) Stock Rating Reaffirmed by Bank of America

CROWN CASTLE IN/SH SH (NYSE:CCI)‘s stock had its “buy” rating restated by equities researchers at Bank of America in a research report issued to clients and investors on Wednesday, Briefing.com Automated Import reports. They presently have a $151.00 price target on the real estate investment trust’s stock, up from their prior price target of $133.00. Bank of America‘s price target points to a potential upside of 7.44% from the stock’s previous close.

CCI has been the subject of several other reports. JPMorgan Chase & Co. upgraded CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. New Street Research cut CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price for the company. in a report on Thursday, June 13th. Finally, Morgan Stanley upped their target price on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $128.50.

Shares of CCI stock traded down $1.41 during mid-day trading on Wednesday, hitting $140.54. The stock had a trading volume of 36,453 shares, compared to its average volume of 1,891,214. CROWN CASTLE IN/SH SH has a 12-month low of $103.21 and a 12-month high of $142.24. The firm has a market capitalization of $58.64 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 1.78 and a beta of 0.33. The stock has a 50-day moving average of $133.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.85). CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. CROWN CASTLE IN/SH SH’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that CROWN CASTLE IN/SH SH will post 5.11 earnings per share for the current fiscal year.

In related news, VP Robert Sean Collins sold 1,200 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total transaction of $150,228.00. Following the completion of the sale, the vice president now directly owns 1,616 shares in the company, valued at approximately $202,307.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Landis Martin acquired 16,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average price of $127.33 per share, with a total value of $2,075,479.00. Following the completion of the purchase, the director now directly owns 130,617 shares in the company, valued at $16,631,462.61. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ropes Wealth Advisors LLC acquired a new position in CROWN CASTLE IN/SH SH during the 2nd quarter valued at about $25,000. Kavar Capital Partners LLC acquired a new position in CROWN CASTLE IN/SH SH during the 2nd quarter valued at about $26,000. Manchester Capital Management LLC acquired a new position in CROWN CASTLE IN/SH SH during the 2nd quarter valued at about $26,000. Lenox Wealth Management Inc. increased its position in CROWN CASTLE IN/SH SH by 2,222.2% during the 1st quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 200 shares in the last quarter. Finally, Northern Oak Wealth Management Inc. acquired a new position in CROWN CASTLE IN/SH SH during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

CROWN CASTLE IN/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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Analyst Recommendations for CROWN CASTLE IN/SH SH (NYSE:CCI)

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