Wall Street analysts expect American Tower Corp (NYSE:AMT) to report earnings of $1.93 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for American Tower’s earnings, with the highest EPS estimate coming in at $1.96 and the lowest estimate coming in at $1.87. American Tower posted earnings of $1.90 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 1.6%. The business is scheduled to issue its next quarterly earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that American Tower will report full-year earnings of $7.78 per share for the current financial year, with EPS estimates ranging from $7.71 to $7.82. For the next year, analysts anticipate that the company will post earnings of $8.71 per share, with EPS estimates ranging from $8.50 to $8.89. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for American Tower.
American Tower (NYSE:AMT) last posted its earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 EPS for the quarter, beating the consensus estimate of $1.80 by $0.04. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm earned $0.63 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year.
AMT has been the subject of a number of research reports. Bank of America increased their price target on American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Royal Bank of Canada increased their price target on American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Morgan Stanley increased their price target on American Tower from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, March 11th. Wells Fargo & Co lowered American Tower from an “outperform” rating to a “market perform” rating and increased their price target for the company from $190.00 to $196.00 in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, Oppenheimer lowered American Tower from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 28th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $183.82.
AMT opened at $211.50 on Monday. American Tower has a 12 month low of $136.03 and a 12 month high of $214.52. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $92.37 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.70 and a beta of 0.54.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 19th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This is a positive change from American Tower’s previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a dividend yield of 1.74%. American Tower’s dividend payout ratio (DPR) is currently 45.06%.
In other news, EVP Olivier Puech sold 1,169 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $188.18, for a total transaction of $219,982.42. Following the completion of the sale, the executive vice president now directly owns 19,147 shares of the company’s stock, valued at approximately $3,603,082.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 57,439 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $194.31, for a total value of $11,160,972.09. Following the sale, the chairman now directly owns 255,415 shares of the company’s stock, valued at $49,629,688.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 260,234 shares of company stock valued at $51,643,837. Corporate insiders own 0.75% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meridian Wealth Management LLC boosted its position in shares of American Tower by 56.3% in the first quarter. Meridian Wealth Management LLC now owns 4,133 shares of the real estate investment trust’s stock worth $814,000 after buying an additional 1,488 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of American Tower by 20.0% in the first quarter. Rehmann Capital Advisory Group now owns 1,611 shares of the real estate investment trust’s stock worth $318,000 after buying an additional 268 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in shares of American Tower in the first quarter worth $211,000. GYL Financial Synergies LLC acquired a new stake in shares of American Tower in the first quarter worth $220,000. Finally, Allstate Corp boosted its position in shares of American Tower by 1.4% in the first quarter. Allstate Corp now owns 37,744 shares of the real estate investment trust’s stock worth $7,438,000 after buying an additional 532 shares during the period. 94.33% of the stock is owned by institutional investors and hedge funds.
American Tower Company Profile
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 171,000 communications sites.
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