Crown Castle (CCI) Gains As Market Dips: What You Should Know
Crown Castle (CCI) closed the most recent trading day at $138.31, moving +1.97% from the previous trading session. This change outpaced the S&P 500's 0.4% loss on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 4.72%.
Heading into today, shares of the operator of wireless communications towers had lost 2.15% over the past month, outpacing the Finance sector's loss of 3.82% and the S&P 500's loss of 5.57% in that time.
Wall Street will be looking for positivity from Crown Castle as it approaches its next earnings report date. On that day, Crown Castle is projected to report earnings of $1.83 per share, which would represent year-over-year growth of 3.39%. Meanwhile, our latest consensus estimate is calling for revenue of $1.75 billion, up 5.61% from the prior-year quarter.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.05% lower. Crown Castle is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Crown Castle is currently trading at a Forward P/E ratio of 18.43. This represents a premium compared to its industry's average Forward P/E of 11.57.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Crown Castle Inc. (CCI) : Free Stock Analysis Report
