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(CCI) Director Matthew Thornton III Purchases 1,500 Shares
By: MarketBeat | February 11, 2021
Crown Castle International Corp. (REIT) (NYSE:CCI) Director Matthew Thornton III purchased 1,500 shares of the business's stock in a transaction dated Tuesday, February 9th. The shares were acquired at an average price of $163.03 per share, with a total value of $244,545.00. Following the completion of the acquisition, the director now owns 2,048 shares of the company's stock, valued at $333,885.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of CCI stock traded down $1.08 during trading hours on Thursday, hitting $162.00. 2,285,999 shares of the company's stock were exchanged, compared to its average volume of 2,187,911. The stock's 50-day moving average is $157.72 and its 200-day moving average is $161.79. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $69.87 billion, a price-to-earnings ratio of 101.93, a price-to-earnings-growth ratio of 1.18 and a beta of 0.30. Crown Castle International Corp. has a 52 week low of $114.18 and a 52 week high of $180.00.
Crown Castle International (NYSE:CCI) last issued its quarterly earnings results on Wednesday, January 27th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.75. Crown Castle International had a return on equity of 7.57% and a net margin of 13.09%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Crown Castle International Corp. will post 5.76 earnings per share for the current fiscal year.
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2,000 Shares of Crown Castle International were acquired by Director Kevin A. Stephens
By: InsideArbitrage | February 7, 2021
• Director Kevin A. Stephens acquired 2,000 shares of this cellular towers REIT, paying $164.15 per share for a total amount of $328,310. Mr. Stephens increased his stake by 95.88% to 4,086 shares with this purchase.
You can view the list of recent insider transactions for Crown Castle International Corp. (REIT) here.
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Crown Castle (CCI) Signs Small-Cell Lease Agreement With Verizon
By: Zacks Equity Research | January 29, 2021
Crown Castle International Corp. (CCI) has bagged a long-term agreement to lease 15,000 new small cells to Verizon Communications Inc. (VZ) to support the carrier’s 5G Ultra Wideband and 5G nationwide deployment.
Specifically, Verizon will rent out the small cells from Crown Castle over the next four years, with an initial term of 10 years. The agreement is a crucial component of the carrier’s 5G expansion plans and will enable it to advance the infrastructure needed to access 5G.
Notably, the company has been making efforts to extend its communication infrastructure footprint and is investing significantly in its fiber segment on the back of acquisitions, and construction of small cells and fiber. In fact, the company exited 2020 with approximately 50,000 small cells on air and the 5G small cell agreement with Verizon. It has considerably increased the backlog of small cells committed or under construction to roughly 30,000.
Also, its urban skew of tower sites and ability to offer a holistic network solution with towers and small cells provides it with a competitive edge over other tower companies. This had likely enabled the company to become the anchor infrastructure partner on the tower side for DISH Network (DISH) in November 2020, after it bagged a long-term lease agreement with the latter to rent out space on up to 20,000 of its communication towers.
However, customer concentration is high for Crown Castle, with the big three carriers accounting for a significant portion of its revenues. The loss of any of these customers, consolidation among them or reduction in network spending leads to a material impact on the company’s top line.
In fact, in December 2020, T-Mobile US, Inc. (TMUS) canceled approximately 5,700 small cells contracted between Sprint Corporation and Crown Castle, prior to the merger of the carriers. While the majority of the canceled small cells were not yet constructed, upon completion, it would result in site overlap as other T-Mobile small cells locations. The cancellation resulted in T-Mobile accelerating the payment of all contractual rental obligations associated with 5,700 small cells and the payment of capital costs incurred to date. This, in turn, impacted Crown Castle’s fourth-quarter and 2020 results.
Shares of this Zacks Rank #3 (Hold) company have inched up 0.3% over the past three months compared with the industry's growth of 7.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Crown Castle International (NYSE:CCI) Upgraded at Smith Barney Citigroup
By: MarketBeat | January 14, 2021
• Crown Castle International (NYSE:CCI) was upgraded by analysts at Smith Barney Citigroup from a "neutral" rating to a "buy" rating in a report issued on Thursday, The Fly reports.
Several other analysts also recently weighed in on CCI. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Crown Castle International from a "neutral" rating to a "buy" rating and set a $170.00 target price for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Crown Castle International from a "hold" rating to a "buy" rating and boosted their price target for the company from $177.00 to $180.00 in a research report on Friday, December 11th. Wells Fargo & Company boosted their price target on shares of Crown Castle International from $170.00 to $175.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 16th. Credit Suisse Group reduced their price target on shares of Crown Castle International from $148.00 to $146.00 and set a "neutral" rating for the company in a research report on Friday, October 23rd. Finally, Raymond James raised shares of Crown Castle International from a "market perform" rating to an "outperform" rating and set a $172.00 price target for the company in a research report on Monday, October 26th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Crown Castle International has a consensus rating of "Buy" and an average target price of $174.82.
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Crown Castle International Corp. (REIT) (NYSE:CCI) Receives Average Rating of "Hold" from Brokerages
By: MarketBeat | December 31, 2020
Shares of Crown Castle International Corp. (REIT) (NYSE:CCI) have earned a consensus recommendation of "Hold" from the thirteen brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $175.30.
Several equities analysts have issued reports on CCI shares. Raymond James raised Crown Castle International from a "market perform" rating to an "outperform" rating and set a $172.00 price target on the stock in a research note on Monday, October 26th. Deutsche Bank Aktiengesellschaft raised Crown Castle International from a "hold" rating to a "buy" rating and boosted their price target for the company from $177.00 to $180.00 in a research note on Friday, December 11th. Wells Fargo & Company boosted their price target on Crown Castle International from $170.00 to $175.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 16th. Credit Suisse Group dropped their price target on Crown Castle International from $148.00 to $146.00 and set a "neutral" rating on the stock in a research note on Friday, October 23rd. Finally, BidaskClub lowered Crown Castle International from a "hold" rating to a "sell" rating in a research note on Saturday, December 12th.
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Crown Castle International Corp. (REIT) (NYSE:CCI) Delivered A Better ROE Than Its Industry
By: Simply Wall St | December 14, 2020
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). By way of learning-by-doing, we'll look at ROE to gain a better understanding of Crown Castle International Corp. (REIT) (NYSE:CCI).
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
How To Calculate Return On Equity?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Crown Castle International (REIT) is:
8.0% = US$756m ÷ US$9.5b (Based on the trailing twelve months to September 2020).
The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.08 in profit.
Does Crown Castle International (REIT) Have A Good Return On Equity?
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As is clear from the image below, Crown Castle International (REIT) has a better ROE than the average (5.4%) in the REITs industry.
That is a good sign. Bear in mind, a high ROE doesn't always mean superior financial performance. Especially when a firm uses high levels of debt to finance its debt which may boost its ROE but the high leverage puts the company at risk. To know the 3 risks we have identified for Crown Castle International (REIT) visit our risks dashboard for free.
How Does Debt Impact Return On Equity?
Most companies need money -- from somewhere -- to grow their profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the use of debt will improve the returns, but will not change the equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
Crown Castle International (REIT)'s Debt And Its 8.0% ROE
Crown Castle International (REIT) does use a high amount of debt to increase returns. It has a debt to equity ratio of 2.01. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
Conclusion
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have the same ROE, then I would generally prefer the one with less debt.
But when a business is high quality, the market often bids it up to a price that reflects this. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So I think it may be worth checking this free report on analyst forecasts for the company.
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Crown Castle Dividend History
By: DiscoverGold | December 11, 2020
https://investor.crowncastle.com/stock-information/dividend-history
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5G: South Korea Stays in the Lead
By: Statista | December 11, 2020
South Korea was the first country to have its own large-scale 5G network and the country has already turned this head start into a lead over other countries when it comes to 5G adoption. Analysts from GSMA Intelligence expect this trend to continue and predict that 67 percent of Korean cell phones will run on the standard by 2025, compared with 47 percent each in the China and Japan and 55 percent in the U.S.
The countries expected to grow their market segments most over the next four years are typically those that – as of May 2020 – already had providers offering commercial 5G contracts. This applies to the above-mentioned places as well as states on the Gulf, which are expected to reach a share of 21 percent 5G subscriptions by 2025. While GSMA’s report on Europe’s 5G landscape on a country-by-country basis is not out yet, the company expects 5G adoption in Europe to reach 29 percent overall by 2025. Countries with operational 5G networks in Europe include Germany, Poland, Spain, the UK, Ireland, Italy, Romania, Finland, Norway and Hungary, according to the new Statista report "A Mobile Connected World."
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I'm new to stocks that pay a dividend. What time frame do you need to own this to receive that dividend? Thank you for the help
Crown Castle CFO: Fiber business a differentiator for Dish tower deal
By: Bevin Fletcher | November 17, 2020
Speaking at an investor conference Tuesday, Crown Castle CFO Dan Schlanger cited the tower company’s fiber business as a differentiating factor in signing the first major long-term tower deal that was announced by Dish yesterday.
“It is a big deal that we signed with Dish and we’re really excited about it,” Schlanger said during the New Street 2020 Conference on 5G and Infrastructure.
Schlanger declined to get into too many details about the agreement, which is for up to 20,000 tower sites and marks Dish’s first major infrastructure deal for its 5G network build. But when asked by New Street Research analyst Spencer Kurn about whether Crown is poised to capture an outsized market share of Dish’s site build, Schlanger said the company thinks it set itself up “really well to get a significant portion” for how Dish will deploy its network.
Dish is planning a standalone (SA) 5G network with open radio access network (Open RAN) architecture.
“We put ourselves in a position of being a partner that extends beyond” not just towers, he said, as the deal also includes fiber transport services. “We think that was a big deal for them [Dish] in trying to choose a partner.”
Dish has some choice when it comes to picking an infrastructure partner that has towers in the right place, he noted, but said it’s also about having the overall solutions to accomplish the network build.
RELATED: Dish inks long-term deal with Crown Castle for up to 20K towers
“We believe having a large-scale tower operation focused in the top 100 markets in the U.S., with fiber, was a differentiating factor for us and something that really skewed to our direction,” Schlanger said.
In addition to 40,000 U.S. towers, Crown Castle has 80,000 route miles of fiber, as well as a small cell business with 70,000 sites either on air or under development. A Dish spokesperson previously confirmed the deal with Crown Castle yesterday doesn’t involve small cells.
That said, as networks continue to densify to handle increased capacity needs and new use cases, small cells are a part of the picture overall. Schlanger reiterated that the tower company firmly believes small cells will be an integral component of 5G networks, especially with the need for increasinly dense networks as next-gen technology shifts from just connecting people to people, instead to billions and billions of things.
The Dish agreement provides a first proof point, he said, “that having that combination of solutions that we can provide helps us in winning business in the market.”
RELATED: Crown CEO: Future points to blend of small cells, fiber
Edward Knapp, technology chief at peer American Tower, also participated in the New Street event and indicated the agreement with Crown Castle was a positive step for all of the tower companies.
“It’s good to see that Dish is out building and deploying, that’s an important piece,” Knapp said. American Tower expects to be participating, he said, citing Dish’s plan to build at least 15,000 sites in the initial network phase to meet early coverage targets and adding that those will be distributed across any number of partners.
“Ultimately it’s great to see a fourth operator come in and will drive growth for the business,” Knapp added, saying that the announcement was an important first step. “I think all of the participants will benefit from having another spectrum provider and operator in the marketplace.”
While specific financial and deal terms were not disclosed, analysts at Cowen had indicated Monday the agreement could be slightly negative for American Tower and SBA, given Dish’s limited need over the next few years and the up to 20,000 sites for Crown Castle. Wall Street analysts New Street Research and Wells Fargo initially viewed it as positive for tower companies broadly, suggesting it could mean Dish plans to build more towers than the firms initially estimated.
“This agreement suggests that the addressable market for DISH tower sites is larger than we previously estimated, likely +50K over time to reach nationwide coverage,” wrote the Wells Fargo team in a Tuesday note to investors. “We estimate that by FY2027E, DISH could contribute $1-1.2B in annual tower revenues.”
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Crown Castle (CCI) Tops Q3 FFO Estimates
By: Zacks Equity Research | October 21, 2020
Crown Castle (CCI) came out with quarterly funds from operations (FFO) of $1.56 per share, beating the Zacks Consensus Estimate of $1.55 per share. This compares to FFO of $1.55 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of 0.65%. A quarter ago, it was expected that this operator of wireless communications towers would post FFO of $1.48 per share when it actually produced FFO of $1.45, delivering a surprise of -2.03%.
Over the last four quarters, the company has surpassed consensus FFO estimates just once.
Crown Castle, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $1.49 billion for the quarter ended September 2020, missing the Zacks Consensus Estimate by 0.97%. This compares to year-ago revenues of $1.51 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
Crown Castle shares have added about 15.7% since the beginning of the year versus the S&P 500's gain of 6.6%.
What's Next for Crown Castle?
While Crown Castle has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Crown Castle was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $1.63 on $1.55 billion in revenues for the coming quarter and $6.04 on $5.92 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the bottom 12% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
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Crown Castle Announces Third Quarter 2020 Earnings Conference Call Details
By: investor.crowncastle | October 8, 2020
October 8, 2020 - HOUSTON, TEXAS - Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") plans to release its third quarter 2020 results on Wednesday, October 21, 2020, after the market closes. In conjunction with the release, Crown Castle has scheduled a conference call for Thursday, October 22, 2020, at 10:30 a.m. eastern time. The conference call may be accessed by dialing 800-458-4148 and asking for the Crown Castle call (access code 3114175) at least 30 minutes prior to the start time. The conference call may also be accessed live over the Internet at http://investor.crowncastle.com. Any supplemental materials for the call will be posted on the Crown Castle website at http://investor.crowncastle.com.
A telephonic replay of the conference call will be available from 1:30 p.m. eastern time on Thursday, October 22, 2020, through 1:30 p.m. eastern time on Wednesday, January 20, 2021, and may be accessed by dialing 888-203-1112 and using access code 3114175. An audio archive will also be available on the company’s website at http://investor.crowncastle.com shortly after the call and will be accessible for approximately 90 days.
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Crown Castle to Present at the RBC Capital Markets Global Towers and Mobile Infrastructure Virtual Investor Day
By: GlobeNewswire | September 16, 2020
HOUSTON, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") announced today that Dan Schlanger, Crown Castle’s Chief Financial Officer is scheduled to present on Tuesday, September 29, 2020 at 2:40 p.m. Eastern Time at the RBC Capital Markets Virtual Investor Day. Crown Castle’s presentation will be broadcast live over the Internet. The live audio webcast link and presentation for the conference will be available on Crown Castle’s website at www.crowncastle.com, where it will also be archived for replay.
ABOUT CROWN CASTLE
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. For more information on Crown Castle, please visit www.crowncastle.com.
CONTACTS
Dan Schlanger, CFO
Ben Lowe, VP & Treasurer
Crown Castle International Corp.
713-570-3050
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Crown Castle (CCI) Stock Moves -0.69%: What You Should Know
By: Zacks Equity Research | September 4, 2020
In the latest trading session, Crown Castle (CCI) closed at $160.59, marking a -0.69% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.81%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 1.27%.
Coming into today, shares of the operator of wireless communications towers had lost 1.32% in the past month. In that same time, the Finance sector gained 3.79%, while the S&P 500 gained 5.06%.
Wall Street will be looking for positivity from CCI as it approaches its next earnings report date. The company is expected to report EPS of $1.55, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.50 billion, down 0.89% from the prior-year quarter.
CCI's full-year Zacks Consensus Estimates are calling for earnings of $6.04 per share and revenue of $5.92 billion. These results would represent year-over-year changes of +6.15% and +1.24%, respectively.
Investors might also notice recent changes to analyst estimates for CCI. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CCI is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note CCI's current valuation metrics, including its Forward P/E ratio of 26.79. This represents a premium compared to its industry's average Forward P/E of 15.44.
Also, we should mention that CCI has a PEG ratio of 1.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Other was holding an average PEG ratio of 3.92 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% of all 250+ industries.
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Sticking With Our Strategy on Crown Castle (CCI)
By: TheStreet | August 23, 2020
• There's a temptation to cut and run.
Crown Castle Int'l. (CCI) was last reviewed back on July 1, and we wrote that "CCI is in an uptrend so I would continue to trade it from the long side. Hold previous purchases and use a sell stop below $155 for now. Add to longs above $174. The $237 area is our price target for later this year."
Prices have drifted lower from early July but still remain above our risk point of $155. Let's check out the charts to see if we should stay or bail.
In this updated daily bar chart of CCI, below, we can see that prices have struggled above $175 in June and July, and then drifted lower since late July. CCI is below the declining 50-day moving average line but above the rising 200-day moving average line.
The On-Balance-Volume (OBV) line has also slipped a little in August and tells us that sellers of CCI have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator has quietly moved below the zero line this month for an outright sell signal.
In this weekly bar chart of CCI, below, we see a mixed picture. Prices are still in a longer-term uptrend and above the rising 40-week moving average line.
Trading volume has declined a little in recent months suggesting less investor interest and the OBV line has been neutral since April.
The MACD oscillator crossed to the downside in July for a take profits sell signal.
In this updated Point and Figure chart of CCI, below, we used daily price data. Here the chart is projecting a possible decline to the $152 area which would probably mean that our long recommendation would be stopped out.
Bottom line strategy: So far our long recommendations on CCI have not (yet) worked out to our satisfaction. There is a temptation to cut and run, but over the years I have found that sticking to the original strategy -- of risking a close below $155 in this case -- is like not going back on a multiple choice test and changing the answers. The first response I have found to be the best response.
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Crown Castle is scheduled to present on Tuesday, August 11, 2020 at 9:20 a.m. Eastern Time at the Cowen and Company 6th Annual Virtual Communications Infrastructure Summit
By: Reuters | August 3, 2020
HOUSTON, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") announced today that Dan Schlanger, Crown Castle’s Executive Vice President and Chief Financial Officer is scheduled to present on Tuesday, August 11, 2020 at 9:20 a.m. Eastern Time at the Cowen and Company 6th Annual Virtual Communications Infrastructure Summit. The presentation will be broadcast live over the Internet and is expected to last approximately 40 minutes. The live webcast link and presentation for the conference will be available on Crown Castle’s website at www.crowncastle.com, where it will also be archived for replay.
ABOUT CROWN CASTLE
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. For more information on Crown Castle, please visit www.crowncastle.com.
CONTACTS
Dan Schlanger, CFO
Ben Lowe, VP & Treasurer
Crown Castle International Corp.
713-570-3050
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Crown Castle (CCI) Declares Quarterly Common Stock Dividend
By: Apple News | August 7, 2020
Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") announced today that its Board of Directors has declared a quarterly cash dividend of $1.20 per common share. The quarterly dividend will be payable on September 30, 2020 to common
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Bill Gates owns 5.3 million shares. He's going to end up like all the rest. Weinstein etc. And he's here. This has a year before it is destroyed.
Be careful here. 5G is military technology and can wig out (invisibly burn skin)to 1000's of protesters for freedom. These towers are vulnerable to public access. Ukraine just started to consider banning 5G. People are destroying 5G towers all over the world especially England.
Why Cell Phone and Data Towers Should See a Strong 2021 Despite Multiple Concerns
By: 24/7 Wall St. | July 10, 2020
As 2020 is halfway over, and investors are shifting focus to 2021 and what it will bring. Although many investors and analysts alike already have turned to a longer-term approach in regards to the pandemic, this change in focus has special implications for telecoms, with the buildout of 5G on the way. One Wall Street firm takes a look at the good and the bad that may come along with this.
A report from SunTrust Robinson Humphrey’s Greg Miller and Mo Chen details where these telecoms stand. Recently, the firm fielded questions relating to a potential 2021 slowdown in growth for tower stocks despite tailwinds. Ultimately, the firm remains reasonably confident that 2021 should produce growth similar to, if not better than, 2020. Further, it remains confident that tower stocks will continue to outperform the real estate investment trust group heading into 2021 and beyond.
There are many moving parts for this analysis that involve a simultaneous expansion and rationalization of T-Mobile US Inc. (NASDAQ: TMUS) network following its acquisition of Sprint, the first nationwide network buildout in decades by Dish Network Corp. (NASDAQ: DISH) and the long-awaited midband deployments of Verizon Communications Inc. (NYSE: VZ) following the C-band auction later this year, offset by the AT&T Inc. (NYSE: T).
All of that sounds very complicated, but it’s important for investors to remember that any delays seen are temporary, at least according to SunTrust. The underlying long-term growth drivers are still stronger than ever, withstanding any delays.
Also, as investors have shifted focus to a longer-term timeline, this has created a more stable shareholder base that should be able to weather any near-term volatility.
The firm noted in the report that while it generally looks for estimates to grind slowly higher, it would not be changing any estimates at this time. SunTrust further detailed:
If not higher estimates, what then are the catalysts? — Even without an increase in our estimates at this time and even with the prospects for a marginal second half slow-down, we believe the catalysts for the stocks to continue to outperform the overall REIT group remain solid: further deployments of aforementioned spectrum bands in addition to the commencement of the Dish Network build.
Here are the ratings that SunTrust issued for the tower stocks in the report:
• American Tower Corp. (NYSE: AMT) was reiterated as Buy with a $275 price target, implying an upside of 3.5% from the most recent closing price of $265.60.
• Crown Castle International Corp. (NYSE: CCI) was reiterated as Buy with a $180 price target, implying an upside of 4.9% from the most recent closing price of $171.65.
• SBA Communications Corp. (NYSE: SBAC) was reiterated as Buy with a $330 price target, implying an upside of 7.2% from the most recent closing price of $307.78.
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From SA:
Crown Castle responds to Elliot's letter
Jul. 6, 2020 1:51 PM ET|About: Crown Castle Internationa... (CCI)|By: Khyathi Dalal, SA News Editor
Crown Castle' (CCI +2.1%) has issued a statement in response to Elliot's letter, highlighting that investment of ~$30B in the past ten years in its asset portfolio has positioned them to capture the market of increasing demand for mobile data and deploy 5G in the U.S.
On shareholder returns, the company maintains to grow its annual dividend by 7%-8% and it has distributed $1.9B through dividends in 2019.
In the past 5-years, CCI generated 154% total returns compared to 67% and 22% returns from S&P 500 and RMZ index respectively. Elliot noted though the company has outperformed the index, it has lagged its peers.
For the four-year period ending December'19, CCI's site rental revenue growth stood at 67%, adjusted EBITDA rose 61% and AFFO growth of 73%.
"While we firmly believe our strategy best positions Crown Castle to deliver near- and long-term value creation, we remain open to having continuing dialogue with Elliott, as we do with all shareholders."
Crown Castle Urged by Activist Elliott to Lift Performance
By: TheStreet | July 6, 2020
• Crown Castle was urged by the activist hedge fund Elliott Management to make changes to boost its "chronic underperformance."
Crown Castle (CCI) shares rose on Monday after the activist hedge fund Elliott Management urged the cellphone tower giant to “remedy” its “chronic underperformance.”
The investor's recommendations include streamlining its fiber business, adjusting its compensation plan and changing the board.
“Crown Castle's return on investment in fiber is well below industry benchmarks,” Elliott Management, run by Paul Singer, wrote in a letter to Crown Castle’s board.
“The company should refocus on its highest return opportunities and target a fiber [capital-expenditure revenue return on investment] of at least 40%.”
As for compensation, “Crown Castle's current incentive program is not aligned with the capital-intensity of its fiber strategy,” Elliott said.
“Crown Castle should incorporate return-on-invested-capital to appropriately align capital allocation decisions with compensation.”
The investor says its plan will increase free cash flow by 35%, while still allowing for $600 million a year of discretionary fiber capital spending, enabling the company to increase the dividend by 46% to $7 a share in 2021.
When it comes to the board, “Crown Castle should address its extraordinarily long-tenured board to improve oversight of its capital allocation approach and ensure Crown Castle's underperforming fiber business has the appropriate management skill set to deliver improved results,” Elliott said.
“Additionally, Crown Castle's board would meaningfully benefit from greater diversity to improve its performance, culture and value for all stakeholders.”
Elliott said it’s not an adversary. “We want to emphasize our continuing desire to work together.” The company said in the letter that it holds "an economic interest of $1 billion" in Crown Castle.
Crown Castle shares recently traded at $174.73, up 2.1%. The stock has climbed 20% over the apst three months, compared with a 28% rise for the S&P 500.
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Except distance.
5G Dwarfs All of 4G's Specs
By: Statista | June 22, 2020
5G networks continue their roll-outs across the world and the new mobile internet service is eagerly awaited for a reason.
Both peak and regular use download speeds as well as other specs of the new service dwarf existing 4G/LTE specs. The service also offers improved latency (the lag from giving an order to a device and the carrying out of that order), bandwidth and a much higher number of simultaneous carriers. This improvement is especially crucial for the development of services like autonomous driving and the like.
South Korea was the first country to launch a full-service 5G network service in early 2019 and the U.S. followed suit quickly. In both countries, services were rolled out to a limited urban customer base in the beginning and still certainly come with a high price tag.
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Here is what top equities market gurus are saying about Crown Castle International Corp. REIT-CCI
By: DBT NEWS | May 21, 2020
• If we look at the average trading volume of 2.85M shares, CCI reached to a volume of 1815424 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCI shares is $167.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCI stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Crown Castle International Corp. (REIT) shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 28, 2020. While these analysts kept the previous recommendation, BofA/Merrill raised their target price from $133 to $151. The new note on the price target was released on August 14, 2019, representing the official price target for Crown Castle International Corp. (REIT) stock. Previously, the target price had yet another raise from $125 to $150, while JP Morgan kept a Overweight rating on CCI stock.
The Average True Range (ATR) for Crown Castle International Corp. (REIT) is set at 5.11, with the Price to Sales ratio for CCI stock in the period of the last 12 months amounting to 11.13. The Price to Book ratio for the last quarter was 6.26, with the Price to Cash per share for the same quarter was set at 0.73.
Trading performance analysis for CCI stock
Crown Castle International Corp. (REIT) [CCI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.54. With this latest performance, CCI shares dropped by -4.58% in over the last four-week period, additionally plugging by 12.08% over the last 6 months – not to mention a rise of 21.84% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCI stock in for the last two-week period is set at 51.18, with the RSI for the last a single of trading hit 44.16, and the three-weeks RSI is set at 48.45 for Crown Castle International Corp. (REIT) [CCI]. The present Moving Average for the last 50 days of trading for this stock 151.01, while it was recorded at 152.70 for the last single week of trading, and 145.05 for the last 200 days.
Crown Castle International Corp. [REIT] [CCI]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Crown Castle International Corp. (REIT) [CCI] shares currently have an operating margin of +15.94 and a Gross Margin at +38.70. Crown Castle International Corp. (REIT)’s Net Margin is presently recorded at +15.09.
Return on Total Capital for CCI is now 2.88, given the latest momentum, and Return on Invested Capital for the company is 2.75. Return on Equity for this stock inclined to 7.64, with Return on Assets sitting at 2.41. When it comes to the capital structure of this company, Crown Castle International Corp. (REIT) [CCI] has a Total Debt to Total Equity ratio set at 228.15. Additionally, CCI Total Debt to Total Capital is recorded at 69.53, with Total Debt to Total Assets ending up at 62.21. Long-Term Debt to Equity for the company is recorded at 224.35, with the Long-Term Debt to Total Capital now at 68.37.
Reflecting on the efficiency of the workforce at the company, Crown Castle International Corp. (REIT) [CCI] managed to generate an average of $168,627 per employee. Receivables Turnover for the company is 2.93 with a Total Asset Turnover recorded at a value of 0.16.Crown Castle International Corp. (REIT)’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.
Crown Castle International Corp. (REIT) [CCI]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Crown Castle International Corp. (REIT) posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.41/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 26.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CCI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Crown Castle International Corp. (REIT) go to 21.00%.
An analysis of insider ownership at Crown Castle International Corp. [REIT] [CCI]
There are presently around $59,069 million, or 92.70% of CCI stock, in the hands of institutional investors. The top three institutional holders of CCI stocks are: VANGUARD GROUP INC with ownership of 54,892,508, which is approximately 0.124% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 29,006,359 shares of the stock with an approximate value of $4.43 billion in CCI stocks shares; and STATE STREET CORP, currently with $3.0 billion in CCI stock with ownership of nearly -0.498% of the company’s market capitalization.
Positions in Crown Castle International Corp. (REIT) stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 506 institutional holders increased their position in Crown Castle International Corp. (REIT) [NYSE:CCI] by around 25,378,932 shares. Additionally, 540 investors decreased positions by around 24,449,152 shares, while 109 investors held positions by with 337,360,470 shares. The mentioned changes placed institutional holdings at 387,188,554 shares, according to the latest SEC report filing. CCI stock had 120 new institutional investments in for a total of 2,377,480 shares, while 101 institutional investors sold positions of 1,723,481 shares during the same period.
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We May be Working on an Inverse H&S Pattern
By: DiscoverGold | May 20, 2020
- The longer the movement before the formation of an inverse head and shoulders (H&Si) pattern, the stronger the bullish movement at the break of the neck line will be.
- The more abrupt the movement prior to the formation of an inverse head and shoulders (H&Si) pattern, the stronger the bullish movement at the break of the neck line will be.
- Inverse head and shoulder patterns with a downward neck line offer better performance.
- If the left shoulder is higher than the right shoulder, the inverse head and shoulder pattern offers better performance.
- After exiting the inverse head and shoulders pattern, pullbacks in support on the neck line are detrimental to performance.
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Crown Castle (CCI) Declares Quarterly Common Stock Dividend
By: GlobeNewswire | May 14, 2020
HOUSTON, May 14, 2020 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") announced today that its Board of Directors has declared a quarterly cash dividend of $1.20 per common share. The quarterly dividend will be payable on June 30, 2020 to common stockholders of record at the close of business on June 12, 2020. Future dividends are subject to the approval of the Company’s Board of Directors.
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Crown Castle International Corp Q1 adjusted earnings of $1.42 per share
By: RTTNews | April 29, 2020
(RTTNews) - Crown Castle International Corp (CCI) announced earnings for first quarter that decreased from last year.
The company's profit came in at $157 million, or $0.38 per share. This compares with $165 million, or $0.40 per share, in last year's first quarter.
Excluding items, Crown Castle International Corp reported adjusted earnings of $593 million or $1.42 per share for the period.
The company's revenue for the quarter rose 0.7% to $1.42 billion from $1.41 billion last year.
Crown Castle International Corp earnings at a glance:
-Earnings (Q1): $593 Mln. vs. $588 Mln. last year. -EPS (Q1): $1.42 vs. $1.41 last year. -Revenue (Q1): $1.42 Bln vs. $1.41 Bln last year.
-Guidance: Full year EPS guidance: $6.06 - $6.17 Full year revenue guidance: $5,337 - $5,382 Mln
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Eastern Bank Boosts Stock Holdings in CROWN CASTLE IN/SH SH (NYSE:CCI)
By: Stock Observer | April 27, 2020
Eastern Bank boosted its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 23.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,974 shares of the real estate investment trust’s stock after acquiring an additional 20,596 shares during the period. Eastern Bank’s holdings in CROWN CASTLE IN/SH SH were worth $15,448,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of CCI. Norges Bank bought a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at $537,278,000. Franklin Resources Inc. lifted its position in CROWN CASTLE IN/SH SH by 129.6% during the fourth quarter. Franklin Resources Inc. now owns 2,311,105 shares of the real estate investment trust’s stock valued at $328,524,000 after purchasing an additional 1,304,388 shares during the last quarter. Janus Henderson Group PLC lifted its position in CROWN CASTLE IN/SH SH by 6.0% during the fourth quarter. Janus Henderson Group PLC now owns 9,422,387 shares of the real estate investment trust’s stock valued at $1,339,368,000 after purchasing an additional 534,010 shares during the last quarter. M&G Investment Management Ltd. bought a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at $69,195,000. Finally, Duff & Phelps Investment Management Co. lifted its position in CROWN CASTLE IN/SH SH by 44.4% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,439,600 shares of the real estate investment trust’s stock valued at $204,639,000 after purchasing an additional 442,494 shares during the last quarter. 91.62% of the stock is owned by institutional investors.
NYSE CCI traded up $2.19 during trading on Monday, reaching $163.80. 1,620,772 shares of the company’s stock traded hands, compared to its average volume of 2,297,498. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $67.35 billion, a price-to-earnings ratio of 82.90, a price-to-earnings-growth ratio of 1.78 and a beta of 0.27. The company’s 50 day simple moving average is $150.34 and its two-hundred day simple moving average is $144.74. CROWN CASTLE IN/SH SH has a 12-month low of $114.18 and a 12-month high of $168.75.
CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.48 billion. CROWN CASTLE IN/SH SH had a net margin of 16.01% and a return on equity of 8.30%. During the same period last year, the business posted $0.44 EPS. Research analysts expect that CROWN CASTLE IN/SH SH will post 5.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, March 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 84.36%.
CCI has been the subject of several research reports. Citigroup increased their price objective on shares of CROWN CASTLE IN/SH SH from $147.00 to $176.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the stock an “overweight” rating in a report on Monday. Barclays assumed coverage on shares of CROWN CASTLE IN/SH SH in a report on Thursday, January 16th. They issued an “overweight” rating for the company. SunTrust Banks raised their target price on shares of CROWN CASTLE IN/SH SH from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Wells Fargo & Co raised their price target on shares of CROWN CASTLE IN/SH SH from $156.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $154.90.
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Anti-5G cell tower attacks spread to the Netherlands
By: Engadget | April 11, 2020
• The incidents reflect mounting (if unsupported) fears over the technology.
Cell tower attacks aren’t just a UK phenomenon. De Telegraaf reports (via Reuters) that attackers committed arson or sabotage against several cell towers in the Netherlands, four of them just in the past week. The incidents were likely fuelled by anti-5G panic, with at least one perpetrator spraying a slogan opposing the new wireless tech. The full scale isn’t clear, although the country’s National Coordinator for Security and Counterterrorism (NCTV) said there had been “various incidents.”
There had been anti-5G protests in the Netherlands since plans to deploy the format had been announced in 2019, but there had “never before” been violent acts, according to NCTV. Officials at the coordinator repeated warnings that this could disrupt communications, including for emergency services, and that they were in “close contact” with police and providers.
It’s not certain whether the attacks were spurred by claims of a link between 5G and COVID-19 or just general fears of the new wireless standard. In either case, though, there’s no sound supporting evidence that 5G has harmful effects. The higher-frequency signal is so easily blocked that it doesn’t even penetrate the inner layer of skin, and cell networks operate at such low power that they’re well below the safe limit for radiation exposure. The attacks are prompted by irrational fears rather than facts, in other words. Unfortunately, the growing number of incidents suggests the violence isn’t about to stop in the immediate future.
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Crown Castle (CCI) Stock Moves -0.51%: What You Should Know
By: Zacks Equity Research | April 3, 2020
In the latest trading session, Crown Castle (CCI) closed at $145.62, marking a -0.51% move from the previous day. This change was narrower than the S&P 500's 1.51% loss on the day. Elsewhere, the Dow lost 1.69%, while the tech-heavy Nasdaq lost 1.53%.
Prior to today's trading, shares of the operator of wireless communications towers had lost 9.78% over the past month. This has was narrower than the Finance sector's loss of 26.36% and the S&P 500's loss of 18.13% in that time.
Investors will be hoping for strength from CCI as it approaches its next earnings release. In that report, analysts expect CCI to post earnings of $1.49 per share. This would mark year-over-year growth of 2.76%. Our most recent consensus estimate is calling for quarterly revenue of $1.45 billion, up 1.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.15 per share and revenue of $6.04 billion. These totals would mark changes of +8.08% and +3.29%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CCI. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CCI is currently a Zacks Rank #3 (Hold).
Looking at its valuation, CCI is holding a Forward P/E ratio of 23.82. This valuation marks a premium compared to its industry's average Forward P/E of 9.84.
It is also worth noting that CCI currently has a PEG ratio of 1.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CCI's industry had an average PEG ratio of 2.92 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% of all 250+ industries.
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Crown Castle Announces Proposed Offering of Senior Notes
By: Zacks Research | March 31, 2020
HOUSTON, March 31, 2020 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) ("Crown Castle") announced today that it is commencing a public offering of one or more series of senior notes, subject to market and other conditions. The notes will be issued by Crown Castle International Corp. Crown Castle intends to use the net proceeds from this offering to repay outstanding indebtedness under its existing revolving credit facility and, to the extent of any excess proceeds, for general corporate purposes.
BofA Securities, Inc. and Morgan Stanley are the joint book-running managers of the offering.
The offering is being made pursuant to the existing effective shelf registration statement filed with the Securities and Exchange Commission ("SEC"). The offering will be made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained by contacting any joint book-running manager using the information provided below. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is also available on the SEC's website, www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
CAUTIONARY LANGUAGE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that are based on Crown Castle management's current expectations. Such statements include plans, projections and estimates regarding the proposed offering, including the use of proceeds therefrom. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect Crown Castle and its results is included in Crown Castle's filings with the SEC. The term "including," and any variation thereof, means "including, without limitation."
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Crown Castle Declares Quarterly Common Stock Dividend
By: Zacks Equity Research | February 20, 2020
HOUSTON, Feb. 20, 2020 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) ("Crown Castle") announced today that its Board of Directors has declared a quarterly cash dividend of $1.20 per common share. The quarterly dividend will be payable on March 31, 2020 to common stockholders of record at the close of business on March 13, 2020. Future dividends are subject to the approval of the Company’s Board of Directors.
ABOUT CROWN CASTLE
Crown Castle owns, operates and leases more than 40,000 cell towers and more than 75,000 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. For more information on Crown Castle, please visit www.crowncastle.com.
CONTACTS
Dan Schlanger, CFO
Ben Lowe, VP & Treasurer
Crown Castle International Corp.
713-570-3050
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Crown Castle Announces Tax Reporting Information for 2019 Distributions
By: Zacks Investment Research | January 24, 2020
HOUSTON, Jan. 24, 2020 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) (“Crown Castle”) announced today certain year-end tax reporting information for its 2019 distributions.
The following tables summarize, for income tax purposes, the nature of distributions paid to holders of Crown Castle Common Stock, par value $.01 per share (“Common Stock”), and holders of Crown Castle 6.875% Mandatory Convertible Preferred Stock (“Preferred Stock”), presented on a per share basis, during the calendar year ended December 31, 2019. Stockholders are encouraged to consult with their tax advisors as to their specific tax treatment of Crown Castle’s distributions...
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REIT SPDR Holds Key Moving Average as its Biggest Components Spring to Life
By: Arthur Hill | January 11, 2020
Ten of the eleven sector SPDRs are positive over the last three months. The Real Estate SPDR (XLRE) is the only sector sporting a loss (~.75%), but I am not concerned with relative weakness because the price chart looks bullish overall. Note that XLRE was the leading sector in early September with the biggest year-to-date gain at the time. It basically moved from leader to laggard over the last three months. Can it move back to leader? Let’s check the chart.
Despite relative and absolute weakness since mid October, the price chart shows promise as XLRE bids to end its correction. The advanced some 35% from late December to late October, and hit a new high in the process. This was a massive move and the ETF was entitled to a rest at some point. That point came in the fourth quarter as the stock fell back to the rising 200-day SMA. I still think the long-term trend is up because the PPO(20,200,0) remains positive. This means the 20-day EMA is above the 200-day EMA.
Now let’s look at the pattern at work. A falling wedge formed from October to December. These patterns are typical for corrections after advances. The ETF broke above the wedge line in late December and this breakout is largely holding over the last two weeks. This breakout signals an end to the corrective period and a resumption of the bigger uptrend. As such, a move towards, and above, the October high is expected. I would re-evaluate this bullish thesis on a close below 37.50.
The sector SPDRs are often dominated by a few large-caps and XLRE is not an exception. The two largest stocks, American Tower (AMT) and Crown Castle (CCI) account for over 20% of the ETF. Unsurprisingly, these two cell tower REITs have similar patterns at work. Both hit new highs in early September after big advances, corrected into November and broke out in December. These breakouts bode well for the stocks and for XLRE.
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Crown Castle (CCI) Outpaces Stock Market Gains: What You Should Know
By: Zacks Equity Research | December 19, 2019
Crown Castle (CCI) closed at $139.92 in the latest trading session, marking a +1.98% move from the prior day. This move outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.49%, and the Nasdaq, a tech-heavy index, added 0.67%.
Coming into today, shares of the operator of wireless communications towers had gained 0.23% in the past month. In that same time, the Finance sector gained 2.49%, while the S&P 500 gained 2.44%.
CCI will be looking to display strength as it nears its next earnings release. In that report, analysts expect CCI to post earnings of $1.49 per share. This would mark year-over-year growth of 4.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.48 billion, up 4.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.97 per share and revenue of $5.90 billion, which would represent changes of +8.94% and +8.79%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CCI. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CCI is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, CCI is holding a Forward P/E ratio of 22.97. This valuation marks a premium compared to its industry's average Forward P/E of 15.75.
Also, we should mention that CCI has a PEG ratio of 1.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 3.58 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
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Crown Castle Releases 2018 Corporate Sustainability Report
By: Zacks Investment Research | December 16, 2019
HOUSTON, Dec. 16, 2019 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) ("Crown Castle") announced today the release of its 2018 Corporate Sustainability Report (“CSR”). The CSR is posted in the “Investors” section of Crown Castle’s website at http://investor.crowncastle.com. The inaugural report provides an opportunity for Crown Castle to connect with its key stakeholders and demonstrate the company’s commitment to operating responsibly and sustainably as it focuses on delivering long-term shareholder value.
“Technology is changing the way we interact with the world,” stated Jay Brown, Crown Castle’s Chief Executive Officer. “Crown Castle’s unique portfolio of shared communications infrastructure – towers, small cells, and fiber – all works together to set the stage for new innovation, bringing the world’s biggest ideas and possibilities to people and businesses.”
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CROWN CASTLE (CCI) - Target Price Odds Analysis
By: Macroaxis | December 16, 2019
Based on normal probability distribution, the odds of Crown Castle to move above current price in 30 days from now is about 83.93 (This Crown Castle International Corp probability density function shows the probability of Crown Castle Stock to fall within a particular range of prices over 30 days) .
• Odds Below 133.17 = 15.82%
• Odds Above 133.17 = 83.93%
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Crown Castle Declares Quarterly Preferred Stock Dividend
By: Zacks Investment Research | December 12, 2019
HOUSTON, Dec. 11, 2019 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) (“Crown Castle”) announced today that the quarterly dividend on its 6.875% Mandatory Convertible Preferred Stock (“Preferred Stock”) will be paid February 3, 2020 to holders of record on January 15, 2020. The dividend will be paid in cash at a rate of $17.1875 per share of Preferred Stock.
ABOUT CROWN CASTLE
Crown Castle owns, operates and leases more than 40,000 cell towers and more than 75,000 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. For more information on Crown Castle, please visit www.crowncastle.com.
CONTACTS
Dan Schlanger, CFO
Ben Lowe, VP & Treasurer
Crown Castle International Corp.
713-570-3050
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Crown Castle International Corporation's SVP & COO - Fiber just disposed of 2,035 shares
By: CCT | December 6, 2019
James D Young, Crown Castle International Corporation's SVP & COO - Fiber, recently disposed of 2,035 shares of the company. The disposals took place at $0.00 per share, on December 03, 2019. Young still owns 176,655 shares of the company. At least some of the disposals which took place during this transaction were gifts or donations. Young operates out of Houston, TX. Some additional info was provided as follows:
Represents a gift of such shares to a charity pursuant to Rule 16b-5. Represents shares previously acquired in transactions exempt under Rule 16b-3(c).
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Crown Castle International Corporation director just picked up 10,900 shares - Nov. 13, 2019
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SWS Partners Has $371,000 Holdings in CROWN CASTLE IN/SH SH (NYSE:CCI)
By: THE STOCK OBSERVER | November 28, 2019
SWS Partners lessened its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,765 shares of the real estate investment trust’s stock after selling 465 shares during the period. SWS Partners’ holdings in CROWN CASTLE IN/SH SH were worth $371,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of CROWN CASTLE IN/SH SH by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 54,057,163 shares of the real estate investment trust’s stock worth $7,046,352,000 after acquiring an additional 207,370 shares during the last quarter. Magellan Asset Management Ltd increased its stake in CROWN CASTLE IN/SH SH by 0.8% in the 2nd quarter. Magellan Asset Management Ltd now owns 12,357,664 shares of the real estate investment trust’s stock valued at $1,610,822,000 after buying an additional 99,687 shares during the last quarter. Northern Trust Corp increased its stake in CROWN CASTLE IN/SH SH by 0.9% in the 2nd quarter. Northern Trust Corp now owns 5,629,253 shares of the real estate investment trust’s stock valued at $733,773,000 after buying an additional 50,909 shares during the last quarter. California Public Employees Retirement System increased its stake in CROWN CASTLE IN/SH SH by 10.9% in the 3rd quarter. California Public Employees Retirement System now owns 3,346,532 shares of the real estate investment trust’s stock valued at $465,201,000 after buying an additional 329,577 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in CROWN CASTLE IN/SH SH by 25.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock valued at $259,766,000 after buying an additional 404,726 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.
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CCI traded down $0.63 on Thursday, hitting $133.78. The company’s stock had a trading volume of 2,048,645 shares, compared to its average volume of 2,205,229. The company’s 50 day simple moving average is $136.43 and its 200-day simple moving average is $135.82. The firm has a market cap of $54.63 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 1.49 and a beta of 0.28. CROWN CASTLE IN/SH SH has a 12 month low of $103.21 and a 12 month high of $149.47. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.05.
CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.09. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. CROWN CASTLE IN/SH SH had a net margin of 16.12% and a return on equity of 8.07%. CROWN CASTLE IN/SH SH’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. Equities analysts predict that CROWN CASTLE IN/SH SH will post 5.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a yield of 3.59%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.
In other CROWN CASTLE IN/SH SH news, COO Robert Carl Ackerman sold 10,500 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $143.43, for a total value of $1,506,015.00. Following the completion of the transaction, the chief operating officer now directly owns 7,806 shares of the company’s stock, valued at approximately $1,119,614.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director J Landis Martin purchased 1,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $130.62 per share, with a total value of $130,620.00. Following the completion of the acquisition, the director now owns 131,617 shares in the company, valued at $17,191,812.54. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.
CCI has been the subject of several analyst reports. Zacks Investment Research upgraded shares of CROWN CASTLE IN/SH SH from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research note on Wednesday. UBS Group raised their price target on shares of CROWN CASTLE IN/SH SH from $130.00 to $137.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. SunTrust Banks raised their price target on shares of CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $125.00 to $150.00 in a research note on Thursday, August 1st. Finally, ValuEngine lowered shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. CROWN CASTLE IN/SH SH has an average rating of “Hold” and an average price target of $136.08.
CROWN CASTLE IN/SH SH Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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California State Teachers Retirement System Boosts Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)
By: THE STOCK OBSERVER | November 27, 2019
California State Teachers Retirement System grew its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 703,360 shares of the real estate investment trust’s stock after acquiring an additional 8,298 shares during the period. California State Teachers Retirement System’s holdings in CROWN CASTLE IN/SH SH were worth $97,774,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of CROWN CASTLE IN/SH SH by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,780 shares of the real estate investment trust’s stock worth $2,472,000 after purchasing an additional 80 shares during the period. CX Institutional increased its holdings in shares of CROWN CASTLE IN/SH SH by 34.3% in the third quarter. CX Institutional now owns 317 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 81 shares during the period. Lindbrook Capital LLC increased its holdings in shares of CROWN CASTLE IN/SH SH by 11.4% in the second quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 84 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of CROWN CASTLE IN/SH SH by 4.7% in the second quarter. Sunbelt Securities Inc. now owns 1,972 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 88 shares during the period. Finally, Cornerstone Advisors Inc. increased its holdings in shares of CROWN CASTLE IN/SH SH by 4.6% in the second quarter. Cornerstone Advisors Inc. now owns 2,045 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.
In other news, COO Robert Carl Ackerman sold 10,500 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $143.43, for a total transaction of $1,506,015.00. Following the transaction, the chief operating officer now directly owns 7,806 shares of the company’s stock, valued at $1,119,614.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Landis Martin acquired 1,000 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Tuesday, November 12th. The shares were bought at an average cost of $130.62 per share, for a total transaction of $130,620.00. Following the completion of the purchase, the director now directly owns 131,617 shares of the company’s stock, valued at approximately $17,191,812.54. The disclosure for this purchase can be found here. 0.41% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on CCI shares. JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. Guggenheim set a $148.00 price target on shares of CROWN CASTLE IN/SH SH and gave the stock a “hold” rating in a report on Thursday, September 12th. UBS Group upped their price target on shares of CROWN CASTLE IN/SH SH from $130.00 to $137.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Citigroup decreased their price target on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, ValuEngine cut shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $136.08.
CCI traded down $0.45 during trading on Wednesday, reaching $133.96. The stock had a trading volume of 620,485 shares, compared to its average volume of 2,165,082. The stock has a market cap of $55.88 billion, a PE ratio of 24.45, a PEG ratio of 1.50 and a beta of 0.28. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.72 and a current ratio of 0.72. CROWN CASTLE IN/SH SH has a one year low of $103.21 and a one year high of $149.47. The business has a 50-day moving average of $136.51 and a 200-day moving average of $135.77.
CROWN CASTLE IN/SH SH (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.09. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.07% and a net margin of 16.12%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Equities research analysts forecast that CROWN CASTLE IN/SH SH will post 5.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Thursday, December 12th. This is a boost from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 82.12%.
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Updated Rating for Crown Castle (CCI)
By: Macroaxis | November 27, 2019
Macroaxis provides instant equity rating based on combination of real-time fundamental analysis and risk-adjusted market performance. The results are broken down into 6 separate categories that are weighted to derive a horizon-based digital recommendation. The six categories are: Volatility, Hype Condition, Valuation, Analyst Consensus, Financial Leverage, and Odds of Distress. Every category can also be evaluated separately to get more details. Please note, we provide buy hold or sell recommendation only in the context of selected investment horizon assuming investor has average appetite for risk
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Crown Castle (CCI) - Daily Chart
By: finviz | November 28, 2019
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Why Should You Bet on Crown Castle (CCI) Stock Right Now?
By: Zacks Equity Research | November 18, 2019
Shares of Crown Castle International Corp CCI have been performing well, of late. In the past six months, the stock has rallied 9.1%, outperforming the industry’s growth of 4.7%.
This rally is anticipated to continue in the near term supported by a number of favorable factors.
Crown Castle has been making diligent efforts to expand its fiber footprint (focused on the small cell opportunity) through the purchase of several fiber operators and small-cell deployments. This has provided the company with competitive small-cell economics. Additionally, with strategic acquisitions, it is well poised to service requirements of the largest carriers for macro tower, including the current 4G and future 5G deployments as well as enterprise demand for fiber.
Moreover, in third-quarter 2019, Crown Castle reported adjusted funds from operations (AFFO) per share of $1.55 that surpassed the Zacks Consensus Estimate of $1.48. Further, net revenues amounted to $1.51 billion, suggesting 10.1% year-over-year growth. Results reflected benefits from the company’s extensive tower portfolio, high demand for infrastructure and healthy leasing activity.
If you haven’t taken advantage of the share price appreciation yet, the time is right for you to bet on the stock, as it is poised to ride on its growth trajectory.
Key Driving Factors
Secular industry tailwinds to drive new leasing activity: As data volume for wireless and wired network is growing rapidly, service providers continue to invest more in their networks in a bid to improve and densify the networks. Further, 5G deployment is spurring demand for the company’s tower and small cell assets as the wireless carriers intend to expand and enhance their networks, in order to provide the coverage, capacity and speed needed to support mobile video, the Internet of Things (IoT), fixed wireless broadband. Amid this, Crown Castle’s customers are leasing its tower and fiber assets, along with adding new cell sites and spectrum. In fact, it expects new leasing activity to be in the $345-$375 million range for 2019 and $365-$395 million for 2020.
Robust FFO growth: The company’s FFO per share is estimated to grow 8.9% year over year in the ongoing year. Additionally, in the next five years, the company’s FFO per share is estimated to be up 15.5%. Moreover, Crown Castle projects the FFO in the $2,539-$2,584 million range, backed by robust demand for its tower and fiber assets.
Superior return on equity (ROE): Crown Castle has a ROE of 8.07%, significantly higher than the industry’s average of 4.54%. This highlights optimal utilization of equity and boosts investors’ confidence in the stock.
Strong cash flow per share: The company generates cash flow per share of $5.32 as compared with the industry’s average of $2.26. Further, its cash flow is expected to improve 30% year over year in 2019 (compared with the industry’s growth of 13.2%). This makes us optimistic about Crown Castle’s operating performance in the upcoming period.
Zacks Rank
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
EastGroup Properties, Inc. EGP also carries a Zacks Rank of 2, currently. The company’s FFO per share estimate for this year moved up to $4.94 over the past month.
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Has Crown Castle International (CCI) Outpaced Other Finance Stocks This Year?
By: Zacks Equity Research | November 26, 2019
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Crown Castle International (CCI) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Crown Castle International is a member of our Finance group, which includes 843 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CCI is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CCI's full-year earnings has moved 0.85% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CCI has gained about 20.95% so far this year. Meanwhile, the Finance sector has returned an average of 17.96% on a year-to-date basis. This shows that Crown Castle International is outperforming its peers so far this year.
To break things down more, CCI belongs to the REIT and Equity Trust - Other industry, a group that includes 117 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, this group has gained an average of 24.11% so far this year, meaning that CCI is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Finance sector will want to keep a close eye on CCI as it attempts to continue its solid performance.
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