What’s Ahead for Crown Castle International Corp. (CCI) After Forming Descending Triangle Pattern?

April 17, 2018 - By Nellie Frank

Crown Castle International Corp. (NYSE:REIT) Logo

Investors sentiment decreased to 1.24 in Q4 2017. Its down 0.34, from 1.58 in 2017Q3. It is negative, 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.
Rare has invested 13.77% in Crown Castle International Corp. (NYSE:REIT). 16,192 are held by Liberty Mutual Gru Asset Management. California-based Ashfield Capital Prtnrs Ltd Liability Co has invested 0.94% in Crown Castle International Corp. (NYSE:REIT). Connable Office stated it has 0.64% in Crown Castle International Corp. (NYSE:REIT). Moore Cap Mngmt Ltd Partnership holds 1.72% or 850,000 shares in its portfolio. 752,500 were accumulated by State Of New Jersey Common Pension Fund D. Gabelli Funds reported 225,100 shares or 0.14% of all its holdings. Paradigm Asset Mngmt Company Ltd owns 0.74% invested in Crown Castle International Corp. (NYSE:REIT) for 24,200 shares. Spears Abacus Advisors Ltd Limited Liability Company has invested 0.16% in Crown Castle International Corp. (NYSE:REIT). 4,635 are held by Finemark Retail Bank Tru. Klingenstein Fields And Ltd Liability invested in 261,690 shares or 1.07% of the stock. Eaton Vance owns 165,632 shares or 0.04% of their US portfolio. Rhumbline Advisers invested in 773,865 shares or 0.17% of the stock. Missouri-based National Bank has invested 0.02% in Crown Castle International Corp. (NYSE:REIT). Barclays Public Ltd holds 0.04% of its portfolio in Crown Castle International Corp. (NYSE:REIT) for 489,551 shares.

Since February 21, 2018, it had 0 insider purchases, and 2 selling transactions for $2.03 million activity. Simon Kenneth Jay sold $75,391 worth of stock.

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 1.36 million 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 $522.68M 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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