Crown Castle Inc. (NYSE: CCI) stock jumped 1.21% on Thursday to $112.26 against a previous-day closing price of $110.92. With 3.58 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.13 million shares. During the session, the REIT – Specialty company that operates in wider Real Estate sector, reached to the highest price of $113.46 whereas the lowest price it dropped to was $110.22. The 52-week range on CCI shows that it touched its highest point at $192.07 and its lowest point at $110.83 during that stretch. It currently has a 1-year price target of $149.07. With its current market cap of 49.08 billion, CCI has annualized dividend of $6.26 while the current yield stands at 5.58%. Beta for the stock currently stands at 0.67.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CCI was down-trending over the past week, with a drop of -1.52%, but this was down by -6.56% over a month. Three-month performance dropped to -14.41% while six-month performance fell -19.00%. The stock lost -40.84% in the past year, while it has lost -17.24% so far this year. A look at the trailing 12-month EPS for CCI yields 3.85 with Next year EPS estimates of 3.47. For the next quarter, that number is 1.04. This implies an EPS growth rate of 44.60% for this year and -7.95% for next year. EPS is expected to decline by -4.38% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 35.60%.
Float and Shares Shorts:
At present, 433.00 million CCI shares are outstanding with a float of 430.78 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.18 million, which was 0.96% higher than short shares on Mar 30, 2023. In addition to Mr. Jay A. Brown as the firm’s Pres, CEO & Director, Mr. Daniel K. Schlanger serves as its Exec. VP & CFO.
Through their ownership of 92.70% of CCI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.62% of CCI, in contrast to 38.75% held by mutual funds. Shares owned by individuals account for 0.82%. As the largest shareholder in CCI with 12.75% of the stake, The Vanguard Group, Inc. holds 55,274,095 shares worth 55,274,095. A second-largest stockholder of CCI, BlackRock Fund Advisors, holds 21,033,601 shares, controlling over 4.85% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CCI, holding 20,627,530 shares or 4.76% stake. With a 4.39% stake in CCI, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 19,031,401 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of CCI stock, is the second-largest Mutual Fund holder. It holds 13,456,714 shares valued at 1.66 billion. Vanguard 500 Index Fund holds 2.35% of the stake in CCI, owning 10,163,326 shares worth 1.25 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CCI reported revenue of $1.73B and operating income of $603.00M. The EBITDA in the recently reported quarter was $1.02B and diluted EPS was $0.97.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CCI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CCI analysts setting a high price target of $165.00 and a low target of $135.00, the average target price over the next 12 months is $150.06. Based on these targets, CCI could surge 46.98% to reach the target high and rise by 20.26% to reach the target low. Reaching the average price target will result in a growth of 33.67% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CCI stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 1,000 shares were bought while 5,000 shares were sold. The number of buy transactions has increased to 47 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 111,683 while 36,092 shares were sold.