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Crown Castle (CCI) Stock Sinks As Market Gains: Here's Why
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Crown Castle (CCI - Free Report) closed the most recent trading day at $93.11, moving -0.08% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.52% for the day. On the other hand, the Dow registered a gain of 0.4%, and the technology-centric Nasdaq increased by 0.58%.
The operator of wireless communications towers's shares have seen a decrease of 5.43% over the last month, not keeping up with the Finance sector's loss of 3.1% and the S&P 500's loss of 2.61%.
The upcoming earnings release of Crown Castle will be of great interest to investors. The company's earnings report is expected on October 18, 2023. It is anticipated that the company will report an EPS of $1.78, marking a 3.78% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.71 billion, down 2.28% from the year-ago period.
CCI's full-year Zacks Consensus Estimates are calling for earnings of $7.52 per share and revenue of $7.02 billion. These results would represent year-over-year changes of +1.9% and +0.49%, respectively.
Investors might also notice recent changes to analyst estimates for Crown Castle. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.05% fall in the Zacks Consensus EPS estimate. Crown Castle is currently a Zacks Rank #4 (Sell).
Digging into valuation, Crown Castle currently has a Forward P/E ratio of 12.4. This denotes a premium relative to the industry's average Forward P/E of 10.05.
We can also see that CCI currently has a PEG ratio of 2.17. 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. The REIT and Equity Trust - Other industry had an average PEG ratio of 2.18 as trading concluded yesterday.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 173, finds itself in the bottom 32% echelons 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Crown Castle (CCI) Stock Sinks As Market Gains: Here's Why
Crown Castle (CCI - Free Report) closed the most recent trading day at $93.11, moving -0.08% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.52% for the day. On the other hand, the Dow registered a gain of 0.4%, and the technology-centric Nasdaq increased by 0.58%.
The operator of wireless communications towers's shares have seen a decrease of 5.43% over the last month, not keeping up with the Finance sector's loss of 3.1% and the S&P 500's loss of 2.61%.
The upcoming earnings release of Crown Castle will be of great interest to investors. The company's earnings report is expected on October 18, 2023. It is anticipated that the company will report an EPS of $1.78, marking a 3.78% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.71 billion, down 2.28% from the year-ago period.
CCI's full-year Zacks Consensus Estimates are calling for earnings of $7.52 per share and revenue of $7.02 billion. These results would represent year-over-year changes of +1.9% and +0.49%, respectively.
Investors might also notice recent changes to analyst estimates for Crown Castle. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.05% fall in the Zacks Consensus EPS estimate. Crown Castle is currently a Zacks Rank #4 (Sell).
Digging into valuation, Crown Castle currently has a Forward P/E ratio of 12.4. This denotes a premium relative to the industry's average Forward P/E of 10.05.
We can also see that CCI currently has a PEG ratio of 2.17. 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. The REIT and Equity Trust - Other industry had an average PEG ratio of 2.18 as trading concluded yesterday.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 173, finds itself in the bottom 32% echelons 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.