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Crown Castle (CCI) Stock Declines While Market Improves: Some Information for Investors
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In the latest market close, Crown Castle (CCI - Free Report) reached $113.77, with a -0.2% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.18%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.1%.
Heading into today, shares of the operator of wireless communications towers had lost 3.09% over the past month, lagging the Finance sector's gain of 4.37% and the S&P 500's gain of 2.75% in that time.
Investors will be eagerly watching for the performance of Crown Castle in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.78, showcasing a 3.78% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.65 billion, showing a 6.56% drop compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Crown Castle. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% increase. Currently, Crown Castle is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Crown Castle is holding a Forward P/E ratio of 16.25. This expresses a premium compared to the average Forward P/E of 11.17 of its industry.
One should further note that CCI currently holds a PEG ratio of 2.85. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the REIT and Equity Trust - Other industry had an average PEG ratio of 2.37.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Crown Castle (CCI) Stock Declines While Market Improves: Some Information for Investors
In the latest market close, Crown Castle (CCI - Free Report) reached $113.77, with a -0.2% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.18%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.1%.
Heading into today, shares of the operator of wireless communications towers had lost 3.09% over the past month, lagging the Finance sector's gain of 4.37% and the S&P 500's gain of 2.75% in that time.
Investors will be eagerly watching for the performance of Crown Castle in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.78, showcasing a 3.78% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.65 billion, showing a 6.56% drop compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Crown Castle. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% increase. Currently, Crown Castle is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Crown Castle is holding a Forward P/E ratio of 16.25. This expresses a premium compared to the average Forward P/E of 11.17 of its industry.
One should further note that CCI currently holds a PEG ratio of 2.85. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the REIT and Equity Trust - Other industry had an average PEG ratio of 2.37.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.