In yesterday’s Wall Street session, Crown Castle Inc (NYSE:CCI) shares traded at $91.08, down -1.33% from the previous session.
As of this writing, 20 analysts cover Crown Castle Inc (NYSE:CCI). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $151.00 and a low of $91.00, we find $122.50. Given the previous closing price of $92.31, this indicates a potential upside of 32.71 percent. CCI stock price is now -11.02% away from the 50-day moving average and -25.48% away from the 200-day moving average. The market capitalization of the company currently stands at $39.50B.
There are 8 analysts who have given it a hold rating, whereas 7 have given it a buy rating. Brokers who have rated the stock have averaged $123.25 as their price target over the next twelve months.
With the price target maintained at $115, BofA Securities recently Downgraded its rating from Buy to Neutral for Crown Castle Inc (NYSE: CCI).
In other news, Stephens Kevin A, Director bought 1,000 shares of the company’s stock on May 02. The stock was bought for $117,996 at an average price of $118.00. Upon completion of the transaction, the Director now directly owns 15,416 shares in the company, valued at $1.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 27, EVP – Business Support Nichol Laura B sold 5,000 shares of the business’s stock. A total of $604,850 was realized by selling the stock at an average price of $120.97. This leaves the insider owning 16,782 shares of the company worth $1.53 million. Insiders disposed of 54,816 shares of company stock worth roughly $4.99 million over the past 1 year. A total of 0.43% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CCI stock. A new stake in Crown Castle Inc shares was purchased by UNISUPER MANAGEMENT PTY LTD during the first quarter worth $69,822,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $32,963,000 in shares of CCI during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in Crown Castle Inc valued at approximately $21,504,000. HRT FINANCIAL LP acquired a new stake in CCI for approximately $15,675,000. JUMP FINANCIAL, LLC purchased a new stake in CCI valued at around $10,735,000 in the second quarter. In total, there are 1,724 active investors with 92.69% ownership of the company’s stock.
During the past 12 months, Crown Castle Inc has had a low of $90.81 and a high of $153.98. The fifty day moving average price for CCI is $101.98 and a two-hundred day moving average price translates $121.99 for the stock.
The latest earnings results from Crown Castle Inc (NYSE: CCI) was released for Jun, 2023. According to the REIT – Specialty Company, earnings per share came in at $1.05, inline with analysts’ expectations of $1.05. This compares to $0.97 EPS in the same period last year. The net profit margin was 23.85% and return on equity was 22.88% for CCI. The company reported revenue of $1.87 billion for the quarter, compared to $1.73 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.67 percent. For the current quarter, analysts expect CCI to generate $1.7B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/29/2023. Investors who held shares on 09/15/2023 were paid a $1.565 dividend. On an annualized basis, this represents a $6.28 dividend and a 6.89% percent yield. There was an ex-dividend date of 09/14/2023 for this dividend. In terms of dividend payout ratio, CCI is presently at 154.82%.
