Analyst Consensus ?
ConsensusBuy45 ratings
Bullish2351.1%
Neutral2146.7%
Bearish12.2%
Crown Castle Inc. · CCI · FY2026 Q3 · Calendar Q4 2026
Crown Castle raises 2026 guidance as transformation advances
The quarter supports a constructive long-term infrastructure case: raised guidance, cost savings, land ownership, spectrum demand and expanding edge-compute activity strengthen the operating trajectory. The evidence is not one-sided, because services softness, carrier churn, DISH-related uncertainty and reliance on future auctions could slow near-term progress.
Reported After market closeNYSEReal Estate
$34.37B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.67
Consensus $0.69
EPS surprise
-2.5%
Reported versus consensus
Reported revenue
$966.0M
Consensus $1.01B
Revenue surprise
-4.5%
Reported versus consensus
Market reaction
close-to-close (session unavailable)
Stock move
-3.1%
Event window
SPY move
+0.5%
Same window
Abnormal move
-3.6%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
CCISPY benchmark
Ask FN2 about CCI FY2026 Q3
Transcript, numbers and history already loaded
Why did CCI fall 3.1% after missing EPS estimates in FY2026 Q3?What changed in CCI's guidance and outlook in FY2026 Q3?Give me the bull and bear case for CCI after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, Crown Castle’s analysis shows higher cost savings delivered, a more aggressive ground-lease buyout target, an acquired $275 million residual economic interest, and edge-compute activity above 100 sites. Management also raised full-year 2026 guidance, while analysts continued to focus on services softness, DISH-related items, spectrum timing and the potential shift of leasing growth into 2027.
Guidance delta
Management raised full-year 2026 guidance for site-rental revenue by $20 million, Adjusted EBITDA by $25 million, and AFFO by $5 million.
Key takeaways
- Management highlighted $65 million of annualized cost savings and a path toward 200 basis points of margin expansion by 2030.
- The ground-lease program is targeting more than 400 purchases in 2026, while an acquired $275 million residual economic interest is expected to support site-rental billings.
- Edge-compute activity exceeded 100 deployed sites, while spectrum deployments remain a longer-term demand driver.
Management priorities
- Continue the enterprise-wide transformation program, including systems modernization and facility optimization.
- Scale ground-lease buyouts and expand edge data-center deployments.
- Position the portfolio for 800 MHz, 600 MHz, and upper C-band spectrum-related demand.
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Miss
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Analyst 52W Price Targets
$78.65Current
$84Low
$124.77Average
$215High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 22, 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 |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Sep 30, 2026 |
| JP Morgan | Underweight | Neutral | Downgrade | Sep 14, 2026 |
| 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 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | May 20, 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 $78.65. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BMO Capital | Ari Klein | $93 | $81.02 | +18.2% | Oct 19, 2026 |
| Morgan Stanley | Analyst unavailable | $85 | $73.13 | +8.1% | Sep 21, 2026 |
| Barclays | Brendan Lynch | $84 | $74.65 | +6.8% | Aug 20, 2026 |
| Goldman Sachs | Michael Ng | $95 | $79.53 | +20.8% | Jun 26, 2026 |
| BMO Capital | Ari Klein | $91 | $81.26 | +15.7% | Feb 5, 2026 |
| KeyBanc | Brandon Nispel | $115 | $87.1 | +46.2% | Jan 21, 2026 |
| New Street | Jonathan Chaplin | $93 | $88.7 | +18.2% | Jan 5, 2026 |
| UBS | Batya Levi | $127 | $92.06 | +61.5% | Dec 10, 2025 |
| Barclays | Analyst unavailable | $101 | $91.26 | +28.4% | Dec 1, 2025 |
| RBC Capital | Analyst unavailable | $112 | $95.71 | +42.4% | Oct 1, 2025 |
| Wells Fargo | Analyst unavailable | $105 | $102.91 | +33.5% | Mar 17, 2025 |
| Jefferies | Jonathan Petersen | $84 | $90.76 | +6.8% | Jan 1, 2025 |
| Goldman Sachs | Brett Feldman | $120 | $112.38 | +52.6% | Oct 21, 2024 |
| Citigroup | Michael Rollins | $128 | $115.68 | +62.7% | Oct 17, 2024 |
| Bank of America Securities | David Barden | $115 | $110.39 | +46.2% | Aug 13, 2024 |
| Williams Trading | Gregory Williams | $127 | $106.31 | +61.5% | Jul 18, 2024 |
| Goldman Sachs | James Schneider | $104 | $97.7 | +32.2% | Jul 1, 2024 |
| Deutsche Bank | Matthew Niknam | $103 | $96.41 | +31.0% | Jun 21, 2024 |
| RBC Capital | Jonathan Atkin | $100 | $95.92 | +27.1% | May 7, 2024 |
| Wells Fargo | Eric Luebchow | $100 | $94.37 | +27.1% | Apr 19, 2024 |
| Barclays | Tim Long | $111 | $92.88 | +41.1% | Apr 18, 2024 |
| Scotiabank | Maher Yaghi | $118 | $93.05 | +50.0% | Apr 18, 2024 |
| BMO Capital | Ari Klein | $105 | $93.05 | +33.5% | Apr 18, 2024 |
| MoffettNathanson | Nick Del Deo | $119 | $100.78 | +51.3% | Apr 8, 2024 |
| BMO Capital | Ari Klein | $110 | $107.97 | +39.9% | Jan 19, 2024 |
| Wells Fargo | Eric Luebchow | $115 | $117.95 | +46.2% | Dec 5, 2023 |
| Loop Capital Markets | Ari Klein | $113 | $114.97 | +43.7% | Jul 13, 2023 |
| Truist Financial | Analyst unavailable | $175 | $150.99 | +122.5% | Jan 13, 2023 |
| Barclays | Analyst unavailable | $152 | $151.59 | +93.3% | Jan 12, 2023 |
| Morgan Stanley | Analyst unavailable | $105 | $144.92 | +33.5% | Jan 10, 2023 |
| Wells Fargo | Analyst unavailable | $80 | $146.42 | +1.7% | Jan 9, 2023 |
| UBS | Analyst unavailable | $90 | $138 | +14.4% | Dec 15, 2022 |
| Raymond James | Analyst unavailable | $201 | $173.01 | +155.6% | Jul 22, 2022 |
| Morgan Stanley | Analyst unavailable | $190 | $173.53 | +141.6% | Jul 20, 2022 |
| Wells Fargo | Analyst unavailable | $175 | $170.13 | +122.5% | Jul 19, 2022 |
| Goldman Sachs | Analyst unavailable | $166 | $172.26 | +111.1% | Jul 12, 2022 |
| Citigroup | Analyst unavailable | $200 | $170.95 | +154.3% | Jul 11, 2022 |
| Jefferies | Jonathan Petersen | $200 | $171.4 | +154.3% | Jul 11, 2022 |
| Deutsche Bank | Matthew Niknam | $183 | $168.59 | +132.7% | Jun 28, 2022 |
| Morgan Stanley | Analyst unavailable | $200 | $182.5 | +154.3% | Jun 7, 2022 |
| KeyBanc | Brandon Nispel | $219 | $188.62 | +178.4% | Apr 27, 2022 |
| Credit Suisse | Analyst unavailable | $215 | $195.4 | +173.4% | Apr 22, 2022 |
| Raymond James | Analyst unavailable | $206 | $196.4 | +161.9% | Apr 22, 2022 |
| Morgan Stanley | Simon Flannery | $207 | $176.9 | +163.2% | Jan 26, 2022 |
| Goldman Sachs | Brett Feldman | $183 | $176.29 | +132.7% | Oct 22, 2021 |
| KeyBanc | Brandon Nispel | $202 | $176.29 | +156.8% | Oct 22, 2021 |
| Wolfe Research | Andrew Rosivach CFA | $162 | $167.9 | +106.0% | Oct 12, 2021 |
| UBS | Batya Levi | $195 | $192.26 | +147.9% | Jun 7, 2021 |
Track every rating change on CCI the moment it posts. Free to start.
Start freeCompany 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.
Historical context
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Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-10-22T00:04:23.982329+00:00
- FN2 earnings calendar · 2026-10-22T01:23:13.354406+00:00
- Polygon adjusted daily market bars · 2026-10-22T01:40:41.407962+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-22T01:40:41.405056+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 · As of 2026-10-22. For educational purposes only; not investment advice.