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Crown Castle (CCI) ended the most recent trading day at $104.35, representing -1.34% change from the previous close. The stock underperformed the S&P 500 Index, which rose 0.63% on the day. At the same time, the Dow Jones Industrial Average rose 0.2%, and the tech-heavy Nasdaq rose 0.82%.
Shares of the wireless tower operator have fallen 2.26% over the past month, lagging the Financials sector’s rise of 2.48% and the S&P 500’s rise of 1.76%.
Market participants will closely monitor Crown Castle’s financial results as they are announced. The company’s earnings per share (EPS) are expected to be $1.71, down 10.47% from the same period last year. Meanwhile, the Zacks Consensus Estimate for net sales is projecting net sales of $1.63 billion, down 8.14% from the year-ago period.
For the full year, Zacks Consensus Estimates suggest analysts are expecting earnings of $6.94 per share and revenue of $6.6 billion. These totals represent changes of -8.08% and -5.43%, respectively, from last year.
It is also important to note any recent changes to analyst estimates for Crown Castle. Such recent changes usually indicate a change in the status of short-term business trends. As a result, the positive estimate changes indicate that analysts have a favorable outlook on the health and profitability of the company’s business.
Empirical research shows that these estimate revisions are directly correlated with impending stock movements. To benefit from this, we have developed the Zacks Rank, a proprietary model that considers these estimate changes and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has a remarkable, third-party-audited track record of outperformance, with #1 rated stocks having an average annual Generates a return of +25%. Over the past 30 days, the Zacks Consensus EPS estimate has remained unchanged. Crown Castle currently has a Zacks Rank of #3 (Hold).
Taking a closer look at valuation, Crown Castle’s current Forward P/E ratio is 15.23. This is a premium compared to its industry’s average Forward P/E of 11.11.
We should also mention that CCI has a PEG ratio of 2.67. The PEG ratio is similar to the widely used P/E ratio, but this metric also takes into account a company’s expected earnings growth rate. REITs and Equity Trusts – Others held his PEG ratio at an average of 2.35 at yesterday’s close.
REITs and Equity Trusts – Other industries are part of the financial sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by determining the average Zacks Rank of the individual stocks that make up the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
To follow CCI in upcoming trading sessions, be sure to visit Zacks.com.
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