Crown Castle (CCI) Ascends While Market Falls: Some Facts to Note
Crown Castle (CCI) closed the most recent trading day at $103.52, moving +0.7% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.31%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Shares of the operator of wireless communications towers have depreciated by 5.42% over the course of the past month, underperforming the Finance sector's gain of 3.08% and the S&P 500's gain of 3.05%.
The upcoming earnings release of Crown Castle will be of great interest to investors. On that day, Crown Castle is projected to report earnings of $1.71 per share, which would represent a year-over-year decline of 10.47%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.63 billion, indicating an 8.14% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.94 per share and a revenue of $6.6 billion, indicating changes of -8.08% and -5.43%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Crown Castle. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Crown Castle is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Crown Castle is presently being traded at a Forward P/E ratio of 14.81. This indicates a premium in contrast to its industry's Forward P/E of 11.44.
We can also see that CCI currently has a PEG ratio of 2.6. 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 2.3 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Crown Castle Inc. (CCI) : Free Stock Analysis Report
