Crown Castle (NYSE:CCI) Given New $123.00 Price Target at TD Cowen

Crown Castle (NYSE:CCI) had its target price reduced by investment analysts at TD Cowen from $127.00 to $123.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. TD Cowen’s target price would indicate a potential upside of 5.85% from the stock’s current price.

A number of other research analysts have also commented on CCI. Barclays raised their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Royal Bank of Canada lifted their price target on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Bank of America upped their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Finally, BMO Capital Markets upped their price target on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $115.57.

Crown Castle Trading Up 0.4 %

NYSE:CCI opened at $116.20 on Thursday. The stock has a market cap of $50.50 billion, a price-to-earnings ratio of 42.41 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. Crown Castle has a 1 year low of $84.72 and a 1 year high of $120.92. The business has a fifty day moving average of $113.98 and a 200-day moving average of $105.00.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. Equities analysts predict that Crown Castle will post 6.65 earnings per share for the current year.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the completion of the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.39% of the company’s stock.

Institutional Trading of Crown Castle

Several institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC boosted its stake in shares of Crown Castle by 594.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 15,699 shares of the real estate investment trust’s stock valued at $1,661,000 after buying an additional 13,439 shares during the period. Mather Group LLC. purchased a new position in Crown Castle in the first quarter valued at about $125,000. Czech National Bank increased its position in Crown Castle by 0.4% in the 1st quarter. Czech National Bank now owns 76,308 shares of the real estate investment trust’s stock worth $8,076,000 after purchasing an additional 296 shares during the last quarter. KMG Fiduciary Partners LLC raised its stake in shares of Crown Castle by 3.1% during the 1st quarter. KMG Fiduciary Partners LLC now owns 15,086 shares of the real estate investment trust’s stock worth $1,597,000 after purchasing an additional 456 shares in the last quarter. Finally, BTC Capital Management Inc. acquired a new stake in shares of Crown Castle during the 1st quarter valued at about $261,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.