Crown Castle International (CCI) is projected to deliver a significant earnings report, forecasted at 43 cents per share. Despite the company announcing two board member departures and upcoming changes, its stock is being touted as a solid pick for portfolios. Strategic operations changes and revised outlooks for FY 2024, along with advanced talks of selling its fiber business to Zayo or TPG for approximately $8 billion, are fueling this optimism. However, a potential dividend cut looms, causing mild concern amidst analyst positivity.
Despite the ongoing downtrend, Hedge Funds suggest CCI remains one of the best infrastructure stocks to pick. Jim Cramer's disapproval has not deterred Valeo Financial Advisors or ABC Arbitrage SA from acquiring thousands of CCI shares and third-quarter results showing strong organic growth add weight to bullish stances. Though the resignation of the CFO in March may cause some stir, alongside 52-week lows hitting the CCI stock, the company continues to show promise with its attractive upside potential and nearly 7% dividend yield.
Analyst reports remain conflicting with Citi lowering their price target, while Barclays sees upside potential mainly due to tower business driving FCF growth. If the anticipated $8 billion sale of the fiber unit to TPG goes through, the stock is expected to gain.
Crown Castle CCI News Analytics from Fri, 31 May 2024 07:00:00 GMT to Sat, 22 Feb 2025 01:23:24 GMT -
Rating 5
- Innovation 7
- Information 6
- Rumor 4
