Crown Castle International Corp (CCI) was Initiated by SunTrust to “Buy” and the brokerage firm has set the Price Target at $107. SunTrust advised their investors in a research report released on Sep 13, 2016.
Many Wall Street Analysts have commented on Crown Castle International Corp. Company shares were Reiterated by Stifel on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $103 .Company shares were Downgraded by Citigroup on Jul 11, 2016 to ” Neutral”, Firm has raised the Price Target to $ 109 from a previous price target of $94 .
On the company’s financial health, Crown Castle International Corp reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $1.04. The company had revenue of $934.40 million for the quarter, compared to analysts expectations of $934.83 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.
Crown Castle International Corp opened for trading at $93.02 and hit $94.21 on the upside on Monday, eventually ending the session at $93.93, with a gain of 0.66% or 0.62 points. The heightened volatility saw the trading volume jump to 2,685,323 shares. Company has a market cap of $31,707 M.
Investors should note that on Aug 2, 2016, Crown Castle International Corp announced a cash dividend of $0.8850. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.
In a different news, on Sep 12, 2016, Robert F Mckenzie (director) sold 1,000 shares at $93.07 per share price. According to the SEC, on Sep 7, 2016, W Benjamin Moreland (Executive Vice Chairman) sold 50,000 shares at $98.23 per share price. On May 6, 2016, Kenneth Jay Simon (SVP and General Counsel) purchased 168 shares at $88.11 per share price, according to the Form-4 filing with the securities and exchange commission.
Crown Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns operates and leases shared wireless infrastructure including towers and other structures such as rooftops (towers) and to a lesser extent distributed antenna systems (DAS) a type of small cell network (small cells) and interests in land under third party towers in various forms (third party land interests). Its core business is renting space or physical capacity (collectively space) on its towers DAS and to a lesser extent third party land interests (collectively site rental business) through long-term contracts in various forms including license sublease and lease agreements (collectively contracts). The Company conducts its operations principally through subsidiaries of (CCOC) including certain subsidiaries which operate its wireless infrastructure portfolios in the United States including Puerto Rico (CCUSA).