Crown Castle (CCI) Soars 5.8%: Is Further Upside Left in the Stock?

Crown Castle (CCI) shares ended the last trading session 5.8% higher at $93.79. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.8% loss over the past four weeks.The increased investor optimism in the stock can be attributed to the favorable operating environment.This operator of wireless communications towers is expected to post quarterly funds from operation (FFO) of $1.00 per share in its upcoming report, which represents a year-over-year change of -2%. Revenues are expected to be $992.89 million, down 6.3% from the year-ago quarter.While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.For Crown Castle, the consensus estimate for FFO per share for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on CCI going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Crown Castle belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Public Storage PSA, closed the last trading session 1.6% higher at $306.66. Over the past month, PSA has returned -2.3%.For Public Storage, the consensus estimate for FFO per share for the upcoming report has remained unchanged over the past month at $4.27. This represents a change of -0.2% from what the company reported a year ago. Public Storage currently has a Zacks Rank of #3 (Hold).Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks