Crown Castle Inc [NYSE: CCI] closed the trading session at $109.94. The company report on February 28, 2024 at 10:20 AM that Crown Castle Co-Founder Ted B. Miller Files Lawsuit to Invalidate Crown Castle’s Unlawful Cooperation Agreement with Elliott.
Asserts That Crown Castle’s Cooperation Agreement Struck Prior to Company’s Nomination Window Disenfranchises Shareholders and Entrenches Board.
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Cooperation Agreement Granted Two Board Seats and Does Not Require Elliott to Retain Equity Ownership in Company, Thereby Misaligning Elliott’s Incentives with Long-Term Interests of Company and Shareholders.
The stocks have a year to date performance of -4.56 percent and weekly performance of 1.82 percent. The stock has been moved at 9.28 percent over the last six months. The stock has performed 1.82 percent around the most recent 30 days and changed -1.07 percent over the most recent 3-months.
If compared to the average trading volume of 3.39M shares, CCI reached to a volume of 4367964 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Crown Castle Inc [CCI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCI shares is $116.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCI stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BMO Capital Markets have made an estimate for Crown Castle Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on January 19, 2024. While these analysts kept the previous recommendation, HSBC Securities raised their target price to Hold. The new note on the price target was released on December 14, 2023, representing the official price target for Crown Castle Inc stock. Previously, the target price had yet another raise from $90 to $115, while Wells Fargo kept a Equal Weight rating on CCI stock. On October 16, 2023, analysts decreased their price target for CCI shares from 125 to 100.
The Average True Range (ATR) for Crown Castle Inc is set at 2.65, with the Price to Sales ratio for CCI stock in the period of the last 12 months amounting to 6.84. The Price to Book ratio for the last quarter was 7.48, with the Price to Cash per share for the same quarter was set at 0.64. Price to Free Cash Flow for CCI in the course of the last twelve months was 28.05.
CCI stock trade performance evaluation
Crown Castle Inc [CCI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.82. With this latest performance, CCI shares gained by 1.82% in over the last four-week period, additionally plugging by 9.28% over the last 6 months – not to mention a drop of -15.92% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCI stock in for the last two-week period is set at 54.56, with the RSI for the last a single of trading hit 58.91, and the three-weeks RSI is set at 52.71 for Crown Castle Inc [CCI]. The present Moving Average for the last 50 days of trading for this stock 110.29, while it was recorded at 107.75 for the last single week of trading, and 105.98 for the last 200 days.
Earnings per share (EPS) analysis for Crown Castle Inc [CCI] stock
With the latest financial reports released by the company, Crown Castle Inc posted 0.97/share EPS, while the average EPS was predicted by analysts to be reported at 0.91/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CCI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Crown Castle Inc go to -10.87%.
Crown Castle Inc [CCI]: Institutional Ownership
The top three institutional holders of CCI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CCI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CCI stock with ownership which is approximately 5.8325%.
