What Next for Crown Castle International Corp. (CCI) After Forming Bullish Descending Triangle Pattern?

April 17, 2018 - By Ann Prendergast

Crown Castle International Corp. (NYSE:REIT) Logo

Investors sentiment decreased to 1.24 in 2017 Q4. Its down 0.34, from 1.58 in 2017Q3. It worsened, as 43 investors sold Crown Castle International Corp. shares while 214 reduced holdings. 84 funds opened positions while 235 raised stakes. 368.81 million shares or 2.36% less from 377.71 million shares in 2017Q3 were reported.
Comml Bank Of Nova Scotia invested in 63,748 shares or 0.03% of the stock. Georgia-based Lakeview Prtn Ltd Liability Corp has invested 0.24% in Crown Castle International Corp. (NYSE:REIT). 4,760 were accumulated by Shelton Mgmt. Blair William And Il holds 21,325 shares or 0.02% of its portfolio. Walter & Keenan Finance Consulting Mi Adv owns 0.58% invested in Crown Castle International Corp. (NYSE:REIT) for 12,350 shares. Union Savings Bank holds 1.3% or 37,793 shares. National Insurance Tx holds 79,615 shares. Tci Wealth Advsrs invested in 0% or 99 shares. Evercore Wealth Mgmt stated it has 4,375 shares or 0.02% of all its holdings. Ontario Teachers Pension Plan Board holds 0.09% of its portfolio in Crown Castle International Corp. (NYSE:REIT) for 68,809 shares. Roosevelt Invest Group accumulated 149,121 shares. Anderson Hoagland has 2.53% invested in Crown Castle International Corp. (NYSE:REIT) for 38,753 shares. Spears Abacus Advisors Limited Liability, New York-based fund reported 11,725 shares. Adage Capital Prtn Grp Limited Com holds 0.14% or 574,594 shares in its portfolio. Sumitomo Mitsui Tru reported 1.12 million shares.

Since February 21, 2018, it had 0 insider buys, and 2 insider sales for $2.03 million activity. Simon Kenneth Jay had sold 693 shares worth $75,391.

The stock of Crown Castle International Corp. (CCI) formed a descending triangle with $112.13 target or 6.00 % above today’s $105.78 share price. The 6 months triangle pattern indicates low risk for the $43.88 billion company. If the $112.13 price target is reached, the company will be worth $2.63 billion more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 1.39% or $1.45 during the last trading session, reaching $105.78. About 1.36M shares traded. Crown Castle International Corp. (NYSE:REIT) has 0.00% since April 17, 2017 and is . It has underperformed by 11.55% the S&P500.

Analysts await Crown Castle International Corp. (NYSE:REIT) to report earnings on April, 23. They expect $1.26 EPS, up 1.61 % or $0.02 from last year’s $1.24 per share. CCI’s profit will be $522.68 million for 20.99 P/E if the $1.26 EPS becomes a reality. After $1.25 actual EPS reported by Crown Castle International Corp. for the previous quarter, Wall Street now forecasts 0.80 % EPS growth.

Crown Castle International Corp. (NYSE:REIT) Ratings Chart

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