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Crown Castle (CCI) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, Crown Castle (CCI - Free Report) closed at $113.99, marking a +1.4% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.59%. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.66%.
Prior to today's trading, shares of the operator of wireless communications towers had gained 7.65% over the past month. This has lagged the Finance sector's gain of 7.84% and outpaced the S&P 500's gain of 5.16% in that time.
The investment community will be paying close attention to the earnings performance of Crown Castle in its upcoming release. The company is expected to report EPS of $1.78, down 3.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.65 billion, down 6.54% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.51 per share and a revenue of $6.96 billion, representing changes of +1.76% and -0.43%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Crown Castle. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Crown Castle presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Crown Castle is currently exchanging hands at a Forward P/E ratio of 14.96. This expresses a premium compared to the average Forward P/E of 11.69 of its industry.
We can also see that CCI currently has a PEG ratio of 2.62. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 2.52 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 152, positioning it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Crown Castle (CCI) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, Crown Castle (CCI - Free Report) closed at $113.99, marking a +1.4% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.59%. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.66%.
Prior to today's trading, shares of the operator of wireless communications towers had gained 7.65% over the past month. This has lagged the Finance sector's gain of 7.84% and outpaced the S&P 500's gain of 5.16% in that time.
The investment community will be paying close attention to the earnings performance of Crown Castle in its upcoming release. The company is expected to report EPS of $1.78, down 3.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.65 billion, down 6.54% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.51 per share and a revenue of $6.96 billion, representing changes of +1.76% and -0.43%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Crown Castle. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Crown Castle presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Crown Castle is currently exchanging hands at a Forward P/E ratio of 14.96. This expresses a premium compared to the average Forward P/E of 11.69 of its industry.
We can also see that CCI currently has a PEG ratio of 2.62. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 2.52 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 152, positioning it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.