https://finance.yahoo.com/news/why-jim-cramer-bearish-crown-135711401.html
3 replies (most recent on top)
I like that the title says Analysts and then it references Jim Cramer.
Hey downward trend, you should probably look up more because there is sunshine ahead.
Another reason for the current dip is that we usually see a fall around this time, just before the expected dividend date on June 14, 2024. As of June 4, 2024, Crown Castle (CCI) has a dividend yield of 6.04%, with a payout of $6.26 per share over the past year, unchanged from the previous year. CCI’s payout ratio is 86.13%, and the next quarterly ex-dividend date is June 14, 2024. CCI has increased its dividend for 10 consecutive years.
It’s typical for a stock’s price to drop by the dividend amount around the ex-dividend date. Our dividend payout is just 4 days away, so this pattern is expected. A performing dividend paying stock like this isn’t a shell of a company, this is why there is the analysts have recommended Hold and not a Sell, they know.
CCI stock was downgraded from Buy to Hold, influenced by high interest rates and a period of slower growth. This downgrade is not a cause for major concern; a Sell rating would be more worrying. The company's layoffs, restructuring, and potential sale of its fiber business could lead to a rebound, and the stock is expected to surge once interest rates are under control. This means investors should hold their shares rather than sell. If you really work here and are competent, you should be aware of the need for restructuring to become more agile and profitable. The days of effortless profitability are over, but growth is anticipated once 6G technology is introduced.