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- 1 CCI stock price showed a bullish trend on Monday morning.
- 2 Crown Castle Inc stock was following a bearish trend in its YTD price analysis.
Crown Castle Inc (NYSE: CCI) is a real estate investment trust company, with a market cap of $47.04 Billion. Its revenue last year amounted to $6.99 Billion, while most of which around $5.01 Billion came from its highest performing source at the moment, Towers.
Additionally, the greatest contribution to the revenue figure was made by the United States, as in the previous year, it brought Crown Castle Inc $6.99 Billion.
According to its earnings and revenue, Crown Castle Inc earnings for Q1 2023 are $0.97, whereas the estimation was $0.91, which accounts for a 6.52% surprise. Moreover, the revenue for the same period amounts to $1.77 Billion despite the estimated figure of $1.76 Billion. Now, the estimated earnings for the next quarter are $1.06, and revenue is expected to reach $1.87 Billion.
CCI Stock Price Performance
CCI stock closed at the price of $110.79 with a 1.23% price gain on Monday, June 26. The opening price of stock was $109.05: high was $111.07, while low was $108.35. Meanwhile, in the previous week, the stock noted nearly a 3% decline, while the year-to-date (YTD) price analysis also showed almost a 19% decline.
As shown in the above price chart, the CCI stock price experienced bear’s dominance due to increased trading volume in the last week. The stock price was trading near to its 20-day moving average, while as per its recent day of trading the stock price was trading below its 20-day EMA.
Meanwhile, the RSI was trading downside towards the oversold zone, which then took a u-turn, and started rising upside due to recent price gain.
Analysts have set their price target which is at $150.06, nearly 35% up from its recent closing price. They are also offering a 1-year price forecast which has a maximum estimate of $165.00, while minimum estimate is at $135.00.
It must be noted that when the company released its Q1 2023 earnings and revenue report on April 19, CCI stock price reached its 50-day EMA. But after that, the stock price started following a bearish trend, while in Monday’s trading session, the stock price showed bulls dominance.
Moreover, if the bulls continuously showed their dominance in the market, then a little rise can be expected at the end of this week.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
