Crown Castle (CCI) closed the most recent trading day at $96.71, moving -0.38% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.46%. Meanwhile, the Dow lost 1.24%, and the Nasdaq, a tech-heavy index, lost 1.63%.
Coming into today, shares of the operator of wireless communications towers had lost 8.58% in the past month. In that same time, the Finance sector lost 3.74%, while the S&P 500 gained 1.6%.
Investors will be eagerly watching for the performance of Crown Castle in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 17, 2024. The company's upcoming EPS is projected at $1.71, signifying a 10.47% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.63 billion, reflecting an 8.14% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.94 per share and a revenue of $6.6 billion, indicating changes of -8.08% and -5.43%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Crown Castle. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Crown Castle is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Crown Castle is currently being traded at a Forward P/E ratio of 13.99. This signifies a premium in comparison to the average Forward P/E of 11.06 for its industry.
Investors should also note that CCI has a PEG ratio of 2.45 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 2.21 based on yesterday's closing prices.
The REIT and Equity Trust - Other industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 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.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>Crown Castle Inc. (CCI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
