Market Update: Crown Castle International Corp (NYSE:CCI) – Crown Castle buys Tower Development Corp for $461 million

[Reuters] – (Reuters) – Telecom tower operator Crown Castle International Corp (CCI.N) said it bought Berkshire Partners-owned Tower Development Corp for $461 million in cash. The deal would immediately add to Crown … Read more on this. Crown Castle International Corp. (CCI) , valued at $29.33B, started the session at $87.22. Looking at the equity, the company’s one day range is $86.82 to $88.21 with the price of the stock fluctuating between $75.71 to $88.46 over the last 52 weeks. CCI shares are currently priced at 18.50x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.85x earnings multiple for the same period. The company pays shareholders $3.54 per share annually in dividends, yielding 4.11%. According to a consensus of 14 analysts, the earnings estimate of $1.14 per share would be $0.01 worse than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $4.69, which would be a $0.39 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $934.83 Million. If realized, that would be a 0.66% decrease over the year-ago quarter. Recently, Sun Trust Rbsn Humphrey Initiated CCI at Buy (Feb 25, 2016). Previously, Deutsche Bank Initiated CCI at to Buy. The average price target for CCI shares by the analysts covering it is $96.06, which is 10.14% above where the stock opened. See more in (NYSE:CCI) Similar Articles: Stock Update: Crown Castle International Corp (NYSE:CCI) – Crown Castle Announces Pricing of Senior Notes Offering Market Update: Crown Castle International Corp (NYSE:CCI) – Crown Castle Declares Quarterly Preferred Stock Dividend Market Update: Crown Castle International Corp (NYSE:CCI) – Bulls Eye Crown Castle (CCI) Stock Ahead of Today’s Earnings Release