Crown Castle (CCI) Gains As Market Dips: What You Should Know
In the latest trading session, Crown Castle (CCI) closed at $141.71, marking a +0.2% move from the previous day. This move outpaced the S&P 500's daily loss of 0.09%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.22%.
Coming into today, shares of the operator of wireless communications towers had gained 9.77% in the past month. In that same time, the Finance sector gained 6.59%, while the S&P 500 gained 5.55%.
Investors will be hoping for strength from Crown Castle as it approaches its next earnings release. In that report, analysts expect Crown Castle to post earnings of $1.84 per share. This would mark year-over-year growth of 3.95%. Meanwhile, our latest consensus estimate is calling for revenue of $1.75 billion, up 5.54% from the prior-year quarter.
CCI's full-year Zacks Consensus Estimates are calling for earnings of $7.36 per share and revenue of $6.97 billion. These results would represent year-over-year changes of +5.9% and +9.86%, respectively.
Investors might also notice recent changes to analyst estimates for Crown Castle. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Crown Castle is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Crown Castle is currently trading at a Forward P/E ratio of 19.21. This represents a premium compared to its industry's average Forward P/E of 12.37.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Crown Castle Inc. (CCI) : Free Stock Analysis Report
