Crown Castle (CCI) Suffers a Larger Drop Than the General Market: Key Insights
Crown Castle (CCI) closed at $112.72 in the latest trading session, marking a -0.61% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.07%.
The the stock of operator of wireless communications towers has fallen by 2.87% in the past month, lagging the Finance sector's gain of 1.65% and the S&P 500's gain of 3.98%.
The upcoming earnings release of Crown Castle will be of great interest to investors. The company's earnings report is expected on January 24, 2024. The company's earnings per share (EPS) are projected to be $1.78, reflecting a 3.78% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.65 billion, down 6.56% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Crown Castle. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% increase. 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 16.17. For comparison, its industry has an average Forward P/E of 11.05, which means Crown Castle is trading at a premium to the group.
It is also worth noting that CCI currently has a PEG ratio of 2.84. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.59 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 159, positioning it in the bottom 37% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Crown Castle Inc. (CCI) : Free Stock Analysis Report
