CROWN CASTLE IN/SH SH (NYSE:CCI) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS
CROWN CASTLE IN/SH SH (NYSE:CCI) released its earnings results on Wednesday. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09), MarketWatch Earnings reports. CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $1.44 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. CROWN CASTLE IN/SH SH updated its FY 2020
After-Hours guidance to 6.06-6.17 EPS and its FY20 guidance to $6.12 EPS.
CCI traded down $4.56 on Thursday, hitting $169.31. The company had a trading volume of 1,039,776 shares, compared to its average volume of 1,944,818. The stock has a fifty day moving average price of $168.10 and a 200-day moving average price of $157.78. CROWN CASTLE IN/SH SH has a 12-month low of $114.18 and a 12-month high of $180.00. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $70.56 billion, a price-to-earnings ratio of 88.19, a P/E/G ratio of 1.42 and a beta of 0.35.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were paid a $1.20 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $4.80 annualized dividend and a yield of 2.84%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 84.36%.
In other news, VP Robert Sean Collins sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $174.09, for a total transaction of $348,180.00. Following the sale, the vice president now owns 5,634 shares in the company, valued at $980,823.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Joseph Kavanagh sold 5,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $153.86, for a total value of $769,300.00. Following the sale, the executive vice president now owns 47,767 shares in the company, valued at approximately $7,349,430.62. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock worth $2,125,480 in the last quarter. 0.47% of the stock is owned by insiders.
About CROWN CASTLE IN/SH SH
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.
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