Market Update (NYSE:CCI): Crown Castle Declares Quarterly Common Stock Dividend

[GlobeNewswire] – HOUSTON, May 20, 2016– Crown Castle International Corp. announced today that its Board of Directors has declared a quarterly cash dividend of $0.885 per common share. The quarterly dividend will be payable … Read more on this. Crown Castle International Corp. (CCI) , with a current value of $30.29B, opened this morning at $89.84. Looking at today’s trading action, the company’s one day range from $89.32 to $90.07 with a one year range of $75.71 to $91.18. Priced at 18.97x this year’s forecasted earnings, CCI shares are relatively expensive compared to the industry’s 18.93x forward p/e ratio. And for passive income investors, the company pays shareholders $3.54 per share annually in dividends, yielding 3.93%. Consensus earnings for the current quarter by the 12 sell-side analysts covering the stock is an estimate of $1.16 per share, which would be $0.13 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $4.72 is a $0.42 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $947.53 Million. If realized, that would be a 5.35% increase 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. When considering if the stock is under or overvalued, the average price target is $95.81, which is 6.65% above where the stock opened this morning. See more in (NYSE:CCI) Similar Articles: Market Update (NYSE:CCI): Crown Castle Declares Quarterly Preferred Stock Dividend Company Update (NYSE:CCI): Crown Castle Declares Quarterly Common Stock Dividend Market Update: Crown Castle International Corp (NYSE:CCI) – Crown Castle Declares Quarterly Preferred Stock Dividend