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Crown Castle (CCI) Stock Sinks As Market Gains: What You Should Know
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Crown Castle (CCI - Free Report) closed at $115.37 in the latest trading session, marking a -0.92% move from the prior day. This move lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Prior to today's trading, shares of the operator of wireless communications towers had gained 1.77% over the past month. This has lagged the Finance sector's gain of 3.29% and the S&P 500's gain of 3.18% in that time.
Wall Street will be looking for positivity from Crown Castle as it approaches its next earnings report date. This is expected to be July 19, 2023. On that day, Crown Castle is projected to report earnings of $1.98 per share, which would represent year-over-year growth of 10%. Our most recent consensus estimate is calling for quarterly revenue of $1.86 billion, up 7.5% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.64 per share and revenue of $7.19 billion. These totals would mark changes of +3.52% and +2.92%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Crown Castle. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has moved 0.03% higher. 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 15.25. Its industry sports an average Forward P/E of 11.68, 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 155, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Crown Castle (CCI) Stock Sinks As Market Gains: What You Should Know
Crown Castle (CCI - Free Report) closed at $115.37 in the latest trading session, marking a -0.92% move from the prior day. This move lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Prior to today's trading, shares of the operator of wireless communications towers had gained 1.77% over the past month. This has lagged the Finance sector's gain of 3.29% and the S&P 500's gain of 3.18% in that time.
Wall Street will be looking for positivity from Crown Castle as it approaches its next earnings report date. This is expected to be July 19, 2023. On that day, Crown Castle is projected to report earnings of $1.98 per share, which would represent year-over-year growth of 10%. Our most recent consensus estimate is calling for quarterly revenue of $1.86 billion, up 7.5% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.64 per share and revenue of $7.19 billion. These totals would mark changes of +3.52% and +2.92%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Crown Castle. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has moved 0.03% higher. 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 15.25. Its industry sports an average Forward P/E of 11.68, 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 155, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.