$1.48 EPS Expected for CROWN CASTLE IN/SH SH (NYSE:CCI) This Quarter

Equities analysts expect CROWN CASTLE IN/SH SH (NYSE:CCI) to post earnings per share of $1.48 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for CROWN CASTLE IN/SH SH’s earnings, with the highest EPS estimate coming in at $1.51 and the lowest estimate coming in at $1.40. CROWN CASTLE IN/SH SH posted earnings of $1.39 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The firm is expected to report its next quarterly earnings results on Wednesday, October 16th.

According to Zacks, analysts expect that CROWN CASTLE IN/SH SH will report full year earnings of $5.92 per share for the current fiscal year, with EPS estimates ranging from $5.85 to $5.96. For the next year, analysts expect that the company will report earnings of $6.35 per share, with EPS estimates ranging from $6.22 to $6.51. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow CROWN CASTLE IN/SH SH.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.85). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.42 billion. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share.

CCI has been the subject of a number of recent analyst reports. Bank of America restated a “buy” rating and set a $151.00 price target (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $125.00 to $150.00 in a research report on Thursday, August 1st. New Street Research lowered shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price target for the company. in a research report on Thursday, June 13th. Finally, Morgan Stanley boosted their price target on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $128.50.

Shares of CCI traded up $0.50 during mid-day trading on Friday, reaching $145.01. 43,991 shares of the stock traded hands, compared to its average volume of 1,879,926. The firm has a fifty day moving average price of $134.73 and a 200 day moving average price of $128.04. The company has a market cap of $60.35 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.63 and a beta of 0.33. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.99. CROWN CASTLE IN/SH SH has a 1 year low of $103.21 and a 1 year high of $145.63.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $1.125 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.50 annualized dividend and a yield of 3.10%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.

In other CROWN CASTLE IN/SH SH news, VP Robert Sean Collins sold 1,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $143.34, for a total value of $143,340.00. Following the completion of the sale, the vice president now directly owns 616 shares of the company’s stock, valued at $88,297.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Landis Martin purchased 16,300 shares of the stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average cost 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 of the company’s stock, valued at $16,631,462.61. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of CCI. California Public Employees Retirement System lifted its stake in CROWN CASTLE IN/SH SH by 22.6% in the second quarter. California Public Employees Retirement System now owns 3,016,955 shares of the real estate investment trust’s stock worth $393,260,000 after purchasing an additional 556,157 shares during the last quarter. Commonwealth Bank of Australia lifted its stake in CROWN CASTLE IN/SH SH by 31.4% in the first quarter. Commonwealth Bank of Australia now owns 2,174,349 shares of the real estate investment trust’s stock worth $278,303,000 after purchasing an additional 519,210 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in CROWN CASTLE IN/SH SH by 25.5% in the second quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock worth $259,766,000 after purchasing an additional 404,726 shares during the last quarter. Argent Capital Management LLC bought a new stake in CROWN CASTLE IN/SH SH in the first quarter worth $51,756,000. Finally, Geode Capital Management LLC lifted its stake in CROWN CASTLE IN/SH SH by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 4,929,209 shares of the real estate investment trust’s stock worth $534,436,000 after purchasing an additional 372,285 shares during the last quarter. 91.39% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Story: Average Daily Trade Volume Explained

Get a free copy of the Zacks research report on CROWN CASTLE IN/SH SH (CCI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CROWN CASTLE IN/SH SH (NYSE:CCI)

Receive News & Ratings for CROWN CASTLE IN/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CROWN CASTLE IN/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.