Equities analysts predict that Crown Castle International Corp. (NYSE:CCI – Get Rating) will report sales of $1.72 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Crown Castle International’s earnings, with the lowest sales estimate coming in at $1.70 billion and the highest estimate coming in at $1.73 billion. Crown Castle International reported sales of $1.58 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.9%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Crown Castle International will report full year sales of $6.94 billion for the current fiscal year, with estimates ranging from $6.89 billion to $6.96 billion. For the next financial year, analysts anticipate that the firm will report sales of $7.05 billion, with estimates ranging from $7.01 billion to $7.15 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Crown Castle International.
Crown Castle International (NYSE:CCI – Get Rating) last released its quarterly earnings data on Wednesday, April 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Crown Castle International had a net margin of 22.12% and a return on equity of 17.40%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm earned $1.71 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year.
Shares of CCI traded up $4.44 during trading hours on Monday, reaching $176.49. 1,854,980 shares of the stock traded hands, compared to its average volume of 1,489,235. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.62. The stock has a fifty day simple moving average of $183.67 and a 200 day simple moving average of $183.91. Crown Castle International has a 52 week low of $157.16 and a 52 week high of $209.87. The company has a market cap of $76.43 billion, a price-to-earnings ratio of 52.53 and a beta of 0.53.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, June 14th. Crown Castle International’s payout ratio is currently 175.00%.
In other news, VP Robert Sean Collins sold 1,000 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $185.44, for a total value of $185,440.00. Following the sale, the vice president now directly owns 10,082 shares of the company’s stock, valued at approximately $1,869,606.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Catherine Piche sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $176.41, for a total transaction of $441,025.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,500 shares of company stock worth $3,702,255. Insiders own 0.47% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CCI. Marshall Wace LLP purchased a new stake in Crown Castle International during the 1st quarter valued at about $118,000. Morgan Stanley lifted its stake in Crown Castle International by 9.9% during the 2nd quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock valued at $1,860,558,000 after acquiring an additional 856,986 shares during the period. Synovus Financial Corp lifted its stake in Crown Castle International by 18.2% during the 3rd quarter. Synovus Financial Corp now owns 3,097 shares of the real estate investment trust’s stock valued at $536,000 after acquiring an additional 477 shares during the period. Ieq Capital LLC lifted its stake in Crown Castle International by 46.8% during the 3rd quarter. Ieq Capital LLC now owns 9,934 shares of the real estate investment trust’s stock valued at $1,722,000 after acquiring an additional 3,168 shares during the period. Finally, We Are One Seven LLC lifted its stake in Crown Castle International by 5.7% during the 3rd quarter. We Are One Seven LLC now owns 3,071 shares of the real estate investment trust’s stock valued at $554,000 after acquiring an additional 166 shares during the period. 91.28% of the stock is currently owned by institutional investors.
Crown Castle International Company Profile (Get Rating)
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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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