Crown Castle International Corp (CCI) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $1.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $1.04. The company posted revenue of $934.40 million in the period, 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.
Many Wall Street Analysts have commented on Crown Castle International Corp. Sun Trust Rbsn Humphrey Initiated Crown Castle International Corp on Feb 25, 2016 to “Buy”, Price Target of the shares are set at $100.Deutsche Bank Initiated Crown Castle International Corp on Feb 24, 2016 to “Buy”, Price Target of the shares are set at $98.Company shares were Reiterated by RBC Capital Mkts on Feb 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 100 from a previous price target of $97 .
Crown Castle International Corp opened for trading at $87.19 and hit $87.74 on the upside on Monday, eventually ending the session at $87.58, with a gain of 0.34% or 0.3 points. The heightened volatility saw the trading volume jump to 10,59,894 shares. Company has a market cap of $29,231 M.
In a different news, on Nov 18, 2015, Robert E Ii Garrison (director) sold 2,427 shares at $85.05 per share price. According to the SEC, on Jun 10, 2015, P Robert Bartolo (director) purchased 12,200 shares at $82.32 per share price. On Mar 13, 2015, Rob A Fisher (V.P. & Corporate Controller) sold 8,462 shares at $85.19 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).