Crown Castle (CCI) Gains As Market Dips: What You Should Know
Crown Castle (CCI) closed the most recent trading day at $138, moving +0.38% from the previous trading session. The stock outpaced the S&P 500's daily loss of 2.49%. Meanwhile, the Dow lost 2.25%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the operator of wireless communications towers had gained 1.38% over the past month, outpacing the Finance sector's loss of 0.54% and the S&P 500's gain of 1.14% in that time.
Crown Castle will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.84, up 3.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.75 billion, up 5.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.36 per share and revenue of $6.97 billion. These totals would mark changes of +5.9% and +9.86%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Crown Castle. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% lower. Crown Castle is currently a Zacks Rank #3 (Hold).
Investors should also note Crown Castle's current valuation metrics, including its Forward P/E ratio of 18.68. This represents a premium compared to its industry's average Forward P/E of 12.31.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% 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.
To follow CCI in the coming trading sessions, be sure to utilize Zacks.com.
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Crown Castle Inc. (CCI) : Free Stock Analysis Report
