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Crown Castle (CCI) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Crown Castle (CCI - Free Report) closed at $128.96, marking a -1.37% move from the previous day. This change lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq lost 15.51%.
Prior to today's trading, shares of the operator of wireless communications towers had lost 11.72% over the past month. This has lagged the Finance sector's loss of 2.63% and the S&P 500's loss of 2.53% in that time.
Wall Street will be looking for positivity from Crown Castle as it approaches its next earnings report date. In that report, analysts expect Crown Castle to post earnings of $1.99 per share. This would mark year-over-year growth of 6.42%. Our most recent consensus estimate is calling for quarterly revenue of $1.8 billion, up 3.45% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.64 per share and revenue of $7.21 billion, which would represent changes of +3.52% and +3.18%, respectively, from the prior year.
It is also important to note the 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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Crown Castle is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Crown Castle is holding a Forward P/E ratio of 17.11. Its industry sports an average Forward P/E of 11.93, so we one might conclude that Crown Castle is trading at a premium comparatively.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CCI in the coming trading sessions, be sure to utilize Zacks.com.
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Crown Castle (CCI) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Crown Castle (CCI - Free Report) closed at $128.96, marking a -1.37% move from the previous day. This change lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq lost 15.51%.
Prior to today's trading, shares of the operator of wireless communications towers had lost 11.72% over the past month. This has lagged the Finance sector's loss of 2.63% and the S&P 500's loss of 2.53% in that time.
Wall Street will be looking for positivity from Crown Castle as it approaches its next earnings report date. In that report, analysts expect Crown Castle to post earnings of $1.99 per share. This would mark year-over-year growth of 6.42%. Our most recent consensus estimate is calling for quarterly revenue of $1.8 billion, up 3.45% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.64 per share and revenue of $7.21 billion, which would represent changes of +3.52% and +3.18%, respectively, from the prior year.
It is also important to note the 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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Crown Castle is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Crown Castle is holding a Forward P/E ratio of 17.11. Its industry sports an average Forward P/E of 11.93, so we one might conclude that Crown Castle is trading at a premium comparatively.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CCI in the coming trading sessions, be sure to utilize Zacks.com.