Crown Castle Inc. (CCI), based in Houston, Texas, is a communications infrastructure provider in the U.S. With a market cap of $51.55 billion, CCI operates an extensive network of cell towers, small cell nodes, and fiber infrastructure that supports millions of users' wireless communications and data transfer. The company is scheduled to announce its Q3 earnings after the market closes on Wednesday, Oct. 16.
Ahead of the event, analysts expect CCI to report a profit of $1.72 per share, down 2.8% from $2.59 in the year-ago quarter. The company has surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $1.62 per share for the last quarter surpassed the consensus estimate by 3.9%. Decreased fiber and service revenues impacted Crown Castle's Q2 2024 performance.
For fiscal 2024, analysts expect CCI to report EPS of $6.64, down 12.1% from $7.55 in fiscal 2023.
CCI stock is up 2.6% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 19.5% gains and the Real Estate Select Sector SPDR Fund’s (XLRE) 10.5% returns over the same time frame.
On Jul. 17, CCI reported its Q2 results. CCI’s revenue of $1.63 billion beat the Wall Street expectations of $1.62 billion. CCI shares closed up more than 1% when its results were released and have been on an uptrend since then.
The consensus opinion on CCI stock is cautious, with an overall “Hold” rating. Out of 19 analysts covering the stock, four advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, 13 indicate a “Hold,” and one advises “Strong Sell.”
This configuration is less bullish than when the stock had overall “Moderate Buy” ratings three months ago. CCI's average analyst price target is $112.59, which indicates that the stock trades at a premium.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
