Crown Castle (CCI) Stock Dips While Market Gains: Key Facts
Crown Castle (CCI) ended the recent trading session at $107.79, demonstrating a -0.65% swing from the preceding day's closing price. This change lagged the S&P 500's 0.88% gain on the day. Meanwhile, the Dow experienced a rise of 0.54%, and the technology-dominated Nasdaq saw an increase of 1.35%.
Shares of the operator of wireless communications towers have depreciated by 5.17% over the course of the past month, underperforming the Finance sector's loss of 4% and the S&P 500's gain of 0.64%.
Analysts and investors alike will be keeping a close eye on the performance of Crown Castle in its upcoming earnings disclosure. The company's earnings report is set to go public on January 24, 2024. The company's upcoming EPS is projected at $1.79, signifying a 3.24% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.65 billion, down 6.56% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Crown Castle. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.24% increase. Crown Castle currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Crown Castle is currently being traded at a Forward P/E ratio of 15.58. This signifies a premium in comparison to the average Forward P/E of 11 for its industry.
One should further note that CCI currently holds a PEG ratio of 2.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 2.51 based on yesterday's closing prices.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Crown Castle Inc. (CCI) : Free Stock Analysis Report
