Crown Castle (CCI)

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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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