New Buy Rating for Crown Castle (CCI), the Technology Giant
In a report released yesterday, Timothy Horan from Oppenheimer maintained a Buy rating on Crown Castle (CCI), with a price target of $195.00. The company’s shares closed last Wednesday at $163.79.
According to TipRanks.com, Horan is a top 100 analyst with an average return of 18.0% and a 72.2% success rate. Horan covers the Technology sector, focusing on stocks such as Lumen Technologies, GTT Communications, and Boingo Wireless.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Crown Castle with a $179.29 average price target.
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Based on Crown Castle’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.44 billion and net profit of $200 million. In comparison, last year the company earned revenue of $1.45 billion and had a net profit of $216 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States. The Fiber segment covers access, including space or capacity of fiber primarily supporting small cell networks and fiber solutions. The company was founded by Ted B. Miller Jr. and Edward C. Hutcheson Jr. in 1994 and is headquartered in Houston, TX.