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Water-Logged And Getting Wetter Stock Of The Day: Crown Castle International (CCI)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Crown Castle International ( CCI) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Crown Castle International as such a stock due to the following factors:

  • CCI has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $103.7 million.
  • CCI has traded 104,988 shares today.
  • CCI traded in a range 209.3% of the normal price range with a price range of $1.94.
  • CCI traded below its daily resistance level (quality: 12 days, meaning that the stock is crossing a resistance level set by the last 12 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on CCI:

Crown Castle International Corp., together with its subsidiaries, owns, operates, and leases shared wireless infrastructure in the United States and Australia. The stock currently has a dividend yield of 1.9%. CCI has a PE ratio of 155.6. Currently there are 10 analysts that rate Crown Castle International a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Crown Castle International has been 2.0 million shares per day over the past 30 days. Crown Castle International has a market cap of $24.9 billion and is part of the technology sector and telecommunications industry. The stock has a beta of 0.38 and a short float of 2.2% with 4.41 days to cover. Shares are up 0.9% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Crown Castle International as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, good cash flow from operations, growth in earnings per share and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Highlights from the ratings report include:

  • CCI's revenue growth has slightly outpaced the industry average of 10.3%. Since the same quarter one year prior, revenues rose by 18.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Real Estate Investment Trusts (REITs) industry. The net income increased by 556.4% when compared to the same quarter one year prior, rising from $15.46 million to $101.50 million.
  • Net operating cash flow has increased to $362.28 million or 26.39% when compared to the same quarter last year. Despite an increase in cash flow, CROWN CASTLE INTL CORP's average is still marginally south of the industry average growth rate of 30.73%.
  • CROWN CASTLE INTL CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, CROWN CASTLE INTL CORP reported lower earnings of $0.28 versus $0.64 in the prior year. This year, the market expects an improvement in earnings ($0.93 versus $0.28).
  • Compared to where it was 12 months ago, the stock is up, but it has so far lagged the appreciation in the S&P 500. Looking ahead, the stock's rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that the other strengths this company displays justify these higher price levels.

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