Crown Castle (CCI) closed the most recent trading day at $113.21, moving +0.89% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.61%. Elsewhere, the Dow lost 0.41%, while the tech-heavy Nasdaq added 10.45%.
Coming into today, shares of the operator of wireless communications towers had lost 5.32% in the past month. In that same time, the Finance sector lost 2.27%, while the S&P 500 gained 1.05%.
Crown Castle will be looking to display strength as it nears its next earnings release. On that day, Crown Castle is projected to report earnings of $1.99 per share, which would represent year-over-year growth of 10.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.87 billion, up 8.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.63 per share and revenue of $7.2 billion, which would represent changes of +3.39% and +3.01%, respectively, from the prior year.
Any recent changes to analyst estimates for Crown Castle should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.02% lower. 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 14.71. This represents a premium compared to its industry's average Forward P/E of 11.27.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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