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Crown Castle (CCI) closed the most recent trading day at $168.38, moving +0.64% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq added 0.08%.
Prior to today's trading, shares of the operator of wireless communications towers had lost 11.05% over the past month. This has lagged the Finance sector's loss of 9.44% and the S&P 500's loss of 8.06% in that time.
Crown Castle will be looking to display strength as it nears its next earnings release. In that report, analysts expect Crown Castle to post earnings of $1.79 per share. This would mark year-over-year growth of 4.68%. Our most recent consensus estimate is calling for quarterly revenue of $1.71 billion, up 8.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.38 per share and revenue of $6.94 billion, which would represent changes of +6.19% and +9.53%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Crown Castle. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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 has moved 0.05% higher. Crown Castle is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Crown Castle is holding a Forward P/E ratio of 22.67. For comparison, its industry has an average Forward P/E of 12.76, which means Crown Castle is trading at a premium to the group.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 International Corporation (CCI) : Free Stock Analysis Report
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