4 Reasons To Snap Up Crown Castle (CCI) Stock Right Away
Zacks Investment Research | Mar 28, 2019 08:19AM ET
It seems to be a wise decision to add Crown Castle International Corp. (NYSE:CCI) , given its continued efforts to diversify business from a tower operator to a fiber provider. Moreover, amid growing demand for data volume and deployment of 5G network, wireless carriers are expanding and enhancing their networks. These positive trends will drive demand for the company’s communications infrastructure assets.
Crown Castle not only witnessed year-over-year growth in funds from operations (FFO) per share in the fourth quarter, but has also been witnessing upward estimate revisions, reflecting analysts’ optimism about its prospects. Over the last 30 days, the Zacks Consensus Estimate for 2019 FFO per share has marginally moved north.
The company’s price performance also seems impressive. In fact, this Zacks Rank #2 (Buy) stock has gained around 13.5% over the past six months, outperforming 9.1% growth recorded by the Zacks Investment Research
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