Analyst Consensus ?
ConsensusBuy45 ratings
Bullish2248.9%
Neutral2351.1%
Bearish00.0%
Crown Castle Inc. · CCI · FY2026 Q2 · Calendar Q3 2026
Crown Castle Completes Pure-Play Tower Transition, Raises AFFO Guidance on Q2 Beat
Crown Castle delivered a strong Q2 with EPS of $0.69 versus $0.39 consensus and revenue of $1.01B versus $0.995B estimate, beating on both lines. The completion of the small-cell and fiber divestiture transforms CCI into the only publicly traded pure-play U.S. tower operator. Management raised full-year 2026 AFFO guidance by $5M and modestly increased the site-rental revenue outlook. The investment story now centers on tower-core operational efficiency, expanding land ownership, and emerging edge compute opportunities — set against the uncertainty of DISH bankruptcy recovery and the broader carrier spending environment.
Reported After market closeNYSEReal Estate
$34.56B market cap
100quality score
Company context
Snapshot as of publicationCrown Castle Inc. specializes in critical digital infrastructure across the United States. The company actively manages, operates, and leases an expansive network, featuring over 40,000 cellular communication towers and approximately 80,000 miles of fiber optic cable. This comprehensive infrastructure underpins both small cell deployments and various advanced fiber solutions, spanning every significant U.S. metropolitan area. Through these vital connections, Crown Castle links communities and urban centers to essential data, cutting-edge technology, and indispensable wireless services, thereby delivering crucial information, innovative concepts, and communication capabilities to individuals and enterprises alike. More information can be found at www.crowncastle.com.
Earnings scorecard
Reported versus consensus
Reported EPS
$0.69
Consensus $0
EPS surprise
+76.7%
Reported versus consensus
Reported revenue
$1.01B
Consensus $995.1M
Revenue surprise
+1.3%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$76.2Current
$84Low
$126.73Average
$215High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Hold | Hold | Maintain | Jul 28, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Jul 24, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 24, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 23, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 23, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 23, 2026 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | May 20, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | May 5, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Apr 23, 2026 |
| Wells Fargo | Equal Weight | Overweight | Downgrade | Mar 23, 2026 |
| UBS | Buy | Buy | Maintain | Feb 5, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Feb 5, 2026 |
| Jefferies | Buy | Buy | Maintain | Feb 4, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Jan 20, 2026 |
| BMO Capital | Outperform | Market Perform | Upgrade | Aug 19, 2025 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Jul 24, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Jul 24, 2025 |
| Citizens Capital Markets | Market Outperform | Market Outperform | Maintain | Mar 14, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Aug 13, 2024 |
| Deutsche Bank | Hold | Hold | Maintain | Jul 23, 2024 |
| Argus Research | Hold | Buy | Downgrade | Apr 19, 2024 |
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 16, 2023 |
| MoffettNathanson | Outperform | Market Perform | Upgrade | Mar 30, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jan 27, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Oct 21, 2022 |
| Oppenheimer | Perform | Outperform | Downgrade | Sep 10, 2021 |
| LightShed Partners | Neutral | Buy | Downgrade | Jul 13, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Feb 28, 2020 |
| Guggenheim | Neutral | Buy | Downgrade | Apr 12, 2019 |
| Macquarie | Neutral | Outperform | Downgrade | Feb 12, 2019 |
| Bank of America | Buy | Buy | Maintain | Sep 8, 2017 |
| BTIG Research | Neutral | Buy | Downgrade | Jul 19, 2016 |
| BTIG | Neutral | Buy | Downgrade | Jul 19, 2016 |
| Canaccord Genuity | Buy | Buy | Maintain | Jul 24, 2015 |
| Evercore ISI Group | Hold | Buy | Downgrade | Jul 21, 2015 |
| Nomura | Neutral | Buy | Downgrade | Nov 3, 2014 |
| Pacific Crest | Sector Perform | Outperform | Downgrade | Jul 25, 2014 |
| Stifel Nicolaus | Buy | Buy | Maintain | Sep 6, 2013 |
| Stifel | Buy | Buy | Maintain | Sep 6, 2013 |
| Evercore Partners | Equal Weight | Overweight | Downgrade | Jul 9, 2013 |
| PiperJaffray | Neutral | Neutral | Maintain | Nov 2, 2012 |
| Piper Sandler | Neutral | Neutral | Maintain | Nov 2, 2012 |
| Benchmark | Buy | Buy | Maintain | Jul 26, 2012 |
| Wedbush | Neutral | Neutral | Maintain | Jun 21, 2012 |
| Bank oferica | Buy | Buy | Maintain | Mar 8, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $76.2. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Michael Ng | $95 | $79.53 | +24.7% | Jun 26, 2026 |
| BMO Capital | Ari Klein | $91 | $81.26 | +19.4% | Feb 5, 2026 |
| KeyBanc | Brandon Nispel | $115 | $87.1 | +50.9% | Jan 21, 2026 |
| New Street | Jonathan Chaplin | $93 | $88.7 | +22.0% | Jan 5, 2026 |
| UBS | Batya Levi | $127 | $92.06 | +66.7% | Dec 10, 2025 |
| Barclays | Analyst unavailable | $101 | $91.26 | +32.5% | Dec 1, 2025 |
| RBC Capital | Analyst unavailable | $112 | $95.71 | +47.0% | Oct 1, 2025 |
| Wells Fargo | Analyst unavailable | $105 | $102.91 | +37.8% | Mar 17, 2025 |
| Jefferies | Jonathan Petersen | $84 | $90.76 | +10.2% | Jan 1, 2025 |
| Goldman Sachs | Brett Feldman | $120 | $112.38 | +57.5% | Oct 21, 2024 |
| Citigroup | Michael Rollins | $128 | $115.68 | +68.0% | Oct 17, 2024 |
| Bank of America Securities | David Barden | $115 | $110.39 | +50.9% | Aug 13, 2024 |
| Williams Trading | Gregory Williams | $127 | $106.31 | +66.7% | Jul 18, 2024 |
| Goldman Sachs | James Schneider | $104 | $97.7 | +36.5% | Jul 1, 2024 |
| Deutsche Bank | Matthew Niknam | $103 | $96.41 | +35.2% | Jun 21, 2024 |
| RBC Capital | Jonathan Atkin | $100 | $95.92 | +31.2% | May 7, 2024 |
| Wells Fargo | Eric Luebchow | $100 | $94.37 | +31.2% | Apr 19, 2024 |
| Barclays | Tim Long | $111 | $92.88 | +45.7% | Apr 18, 2024 |
| Scotiabank | Maher Yaghi | $118 | $93.05 | +54.9% | Apr 18, 2024 |
| BMO Capital | Ari Klein | $105 | $93.05 | +37.8% | Apr 18, 2024 |
| MoffettNathanson | Nick Del Deo | $119 | $100.78 | +56.2% | Apr 8, 2024 |
| BMO Capital | Ari Klein | $110 | $107.97 | +44.4% | Jan 19, 2024 |
| Wells Fargo | Eric Luebchow | $115 | $117.95 | +50.9% | Dec 5, 2023 |
| Loop Capital Markets | Ari Klein | $113 | $114.97 | +48.3% | Jul 13, 2023 |
| Truist Financial | Analyst unavailable | $175 | $150.99 | +129.7% | Jan 13, 2023 |
| Barclays | Analyst unavailable | $152 | $151.59 | +99.5% | Jan 12, 2023 |
| Morgan Stanley | Analyst unavailable | $105 | $144.92 | +37.8% | Jan 10, 2023 |
| Wells Fargo | Analyst unavailable | $80 | $146.42 | +5.0% | Jan 9, 2023 |
| UBS | Analyst unavailable | $90 | $138 | +18.1% | Dec 15, 2022 |
| Raymond James | Analyst unavailable | $201 | $173.01 | +163.8% | Jul 22, 2022 |
| Morgan Stanley | Analyst unavailable | $190 | $173.53 | +149.3% | Jul 20, 2022 |
| Wells Fargo | Analyst unavailable | $175 | $170.13 | +129.7% | Jul 19, 2022 |
| Goldman Sachs | Analyst unavailable | $166 | $172.26 | +117.8% | Jul 12, 2022 |
| Citigroup | Analyst unavailable | $200 | $170.95 | +162.5% | Jul 11, 2022 |
| Jefferies | Jonathan Petersen | $200 | $171.4 | +162.5% | Jul 11, 2022 |
| Deutsche Bank | Matthew Niknam | $183 | $168.59 | +140.2% | Jun 28, 2022 |
| Morgan Stanley | Analyst unavailable | $200 | $182.5 | +162.5% | Jun 7, 2022 |
| KeyBanc | Brandon Nispel | $219 | $188.62 | +187.4% | Apr 27, 2022 |
| Credit Suisse | Analyst unavailable | $215 | $195.4 | +182.2% | Apr 22, 2022 |
| Raymond James | Analyst unavailable | $206 | $196.4 | +170.3% | Apr 22, 2022 |
| Morgan Stanley | Simon Flannery | $207 | $176.9 | +171.7% | Jan 26, 2022 |
| Goldman Sachs | Brett Feldman | $183 | $176.29 | +140.2% | Oct 22, 2021 |
| KeyBanc | Brandon Nispel | $202 | $176.29 | +165.1% | Oct 22, 2021 |
| Wolfe Research | Andrew Rosivach CFA | $162 | $167.9 | +112.6% | Oct 12, 2021 |
| UBS | Batya Levi | $195 | $192.26 | +155.9% | Jun 7, 2021 |
Track every rating change on CCI the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-3.8%
Event window
SPY move
-1.2%
Same window
Abnormal move
-2.5%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+6.1%
Up to 20 sessions
CCISPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Crown Castle completed the sale of its small-cell and fiber businesses, becoming the only publicly traded pure-play U.S. tower operator. Full-year 2026 AFFO guidance was raised by $5M, and the site-rental revenue outlook was modestly increased. The capex outlook shifted from increasing in Q1 to stable in Q2. A $2.4B escrow account tied to the AT&T/EchoStar spectrum transaction was identified as the funding source for DISH-related claims. Early-stage edge data-center trials were initiated at tower sites to monetize available power and space.
Guidance delta
Management raised full-year 2026 AFFO guidance by $5M and modestly increased the site-rental revenue outlook. Capex outlook is now stable, compared to increasing in the prior quarter. Guidance sentiment improved from maintained in Q1 to raised in Q2.
Key takeaways
- Q2 EPS of $0.69 beat consensus of $0.39 by 77%; revenue of $1.01B exceeded estimates of $0.995B by 1.3%.
- Full-year 2026 AFFO guidance raised by $5M; site-rental revenue outlook modestly increased.
- Small-cell and fiber divestiture completed — CCI is now the only publicly traded pure-play U.S. tower operator.
- A $2.4B escrow account from the AT&T/EchoStar spectrum deal will fund DISH-related claims; CCI is pursuing a $3.5B claim in DISH bankruptcy.
- Capital allocation prioritizes debt reduction, a $1B share repurchase program, and $200M in discretionary capex.
Management priorities
- Scale edge data-center trials and monetize available power and space at tower sites.
- Increase ground-lease acquisitions with disciplined return thresholds.
- Continue land-ownership purchases to enhance control and margins.
- Pursue cost-saving initiatives across operations and IT automation.
- Evaluate selective new tower builds where multi-customer demand justifies investment.
Related earnings events
Real EstateSources
- Earnings call transcript and parsed analysis · 2026-07-23T01:04:46.679176+00:00
- FN2 earnings calendar · 2026-07-30T01:23:13.872335+00:00
- Polygon adjusted daily market bars · 2026-07-30T10:10:59.005332+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T10:10:59.002624+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.