In its upcoming report, Crown Castle (CCI) is predicted by Wall Street analysts to post quarterly earnings of $1.04 per share, reflecting a decline of 43.5% compared to the same period last year. Revenues are forecasted to be $1.05 billion, representing a year-over-year decrease of 36.4%.
The consensus EPS estimate for the quarter has been revised 0.4% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link 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.
In light of this perspective, let's dive into the average estimates of certain Crown Castle metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Revenues- Services and other' to come in at $52.25 million. The estimate indicates a change of -11.4% from the prior-year quarter.
The average prediction of analysts places 'Revenues- Site rental' at $998.97 million. The estimate indicates a year-over-year change of -37.3%.
According to the collective judgment of analysts, 'Services and other- Gross margin' should come in at $23.77 million. Compared to the current estimate, the company reported $31.00 million in the same quarter of the previous year.
The consensus estimate for 'Site rental- Gross margin' stands at $750.04 million. Compared to the current estimate, the company reported $1.17 billion in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Depreciation, amortization and accretion' of $185.14 million.
Based on the collective assessment of analysts, 'Costs of operations- Services and other' should arrive at $27.60 million.
Analysts forecast 'Costs of operations- Site rental' to reach $251.59 million.
View all Key Company Metrics for Crown Castle here>>>
Over the past month, Crown Castle shares have recorded returns of +5.5% versus the Zacks S&P 500 composite's +0.7% change. Based on its Zacks Rank #3 (Hold), CCI will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Crown Castle Inc. (CCI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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