Wall Street analysts forecast that Crown Castle (CCI) will report quarterly earnings of $1.79 per share in its upcoming release, pointing to a year-over-year decline of 3.2%. It is anticipated that revenues will amount to $1.65 billion, exhibiting a decline of 6.6% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts’ collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts’ forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let’s delve into the average projections of some Crown Castle metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast ‘Revenues- Site rental’ to reach $1.58 billion. The estimate indicates a change of 0% from the prior-year quarter.
According to the collective judgment of analysts, ‘Revenues- Network services and other’ should come in at $74.01 million. The estimate indicates a change of -60.2% from the prior-year quarter.
Based on the collective assessment of analysts, ‘Site rental revenues- Towers’ should arrive at $1.07 billion. The estimate indicates a change of -1.1% from the prior-year quarter.
Analysts’ assessment points toward ‘Site rental revenues- Fiber’ reaching $507.14 million. The estimate points to a change of +3.1% from the year-ago quarter.
The average prediction of analysts places ‘Revenues- Fiber’ at $503.75 million. The estimate indicates a change of +1.8% from the prior-year quarter.
The consensus estimate for ‘Network services and other revenues- Towers’ stands at $63.69 million. The estimate indicates a change of -65.2% from the prior-year quarter.
The consensus among analysts is that ‘Revenues- Towers’ will reach $1.14 billion. The estimate suggests a change of -10.3% year over year.
The combined assessment of analysts suggests that ‘Network services and other revenues- Fiber’ will likely reach $3.32 million. The estimate points to a change of +10.7% from the year-ago quarter.
Analysts expect ‘Site rental- Gross margin- Consolidated Total’ to come in at $1.17 billion. The estimate is in contrast to the year-ago figure of $1.19 billion.
The collective assessment of analysts points to an estimated ‘Site rental gross margin- Fiber’ of $337.47 million. Compared to the present estimate, the company reported $331 million in the same quarter last year.
It is projected by analysts that the ‘Network Services & Other- Gross margin’ will reach $17.73 million. The estimate is in contrast to the year-ago figure of $67 million.
Analysts predict that the ‘Site rental gross margin- Towers’ will reach $833.04 million. The estimate compares to the year-ago value of $856 million.
View all Key Company Metrics for Crown Castle here>>>
Shares of Crown Castle have demonstrated returns of -5.9% over the past month compared to the Zacks S&P 500 composite’s +0.9% change. With a Zacks Rank #3 (Hold), CCI is expected to mirror the overall market performance in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
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