Crown Castle (NYSE:CCI) Stock Rating Lowered by Jefferies Financial Group

Crown Castle (NYSE:CCI) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They currently have a $84.00 price target on the real estate investment trust’s stock, down from their prior price target of $127.00. Jefferies Financial Group’s price objective points to a potential downside of 6.66% from the company’s previous close.

Other analysts have also issued reports about the company. Wells Fargo & Company lowered Crown Castle from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $105.00 to $100.00 in a report on Tuesday, December 10th. Royal Bank of Canada upped their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. TD Cowen dropped their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.93.

Crown Castle Trading Up 0.8 %

Shares of Crown Castle stock opened at $89.99 on Thursday. The stock has a market capitalization of $39.11 billion, a PE ratio of 31.91 and a beta of 0.87. Crown Castle has a 52 week low of $88.65 and a 52 week high of $120.92. The stock has a 50 day moving average price of $100.89 and a two-hundred day moving average price of $106.19. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business posted $1.77 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that Crown Castle will post 6.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crown Castle

Several institutional investors have recently bought and sold shares of CCI. Farther Finance Advisors LLC boosted its position in Crown Castle by 15.7% during the second quarter. Farther Finance Advisors LLC now owns 3,603 shares of the real estate investment trust’s stock worth $346,000 after purchasing an additional 490 shares during the period. TIAA Trust National Association grew its stake in Crown Castle by 4.4% in the 2nd quarter. TIAA Trust National Association now owns 2,926 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 123 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Crown Castle by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 37,295 shares of the real estate investment trust’s stock valued at $3,644,000 after acquiring an additional 210 shares during the period. Foundations Investment Advisors LLC raised its holdings in Crown Castle by 13.9% during the 2nd quarter. Foundations Investment Advisors LLC now owns 28,131 shares of the real estate investment trust’s stock valued at $2,748,000 after acquiring an additional 3,426 shares during the period. Finally, Stablepoint Partners LLC lifted its position in shares of Crown Castle by 16.3% during the second quarter. Stablepoint Partners LLC now owns 46,495 shares of the real estate investment trust’s stock worth $5,028,000 after acquiring an additional 6,502 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.