Wall Street brokerages expect American Tower Co. (REIT) (NYSE:AMT) to announce $2.18 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for American Tower’s earnings, with the highest sales estimate coming in at $2.24 billion and the lowest estimate coming in at $2.15 billion. American Tower posted sales of $1.99 billion in the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The firm is scheduled to report its next earnings report on Wednesday, May 5th.
According to Zacks, analysts expect that American Tower will report full-year sales of $8.80 billion for the current fiscal year, with estimates ranging from $8.68 billion to $9.19 billion. For the next financial year, analysts forecast that the firm will report sales of $9.24 billion, with estimates ranging from $8.93 billion to $9.86 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover American Tower.
American Tower (NYSE:AMT) last released its earnings results on Wednesday, February 24th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.45). The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.07 billion. American Tower had a net margin of 24.08% and a return on equity of 42.42%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the business posted $1.95 EPS.
AMT has been the subject of a number of analyst reports. Credit Suisse Group decreased their target price on shares of American Tower from $307.00 to $296.00 and set an “outperform” rating for the company in a research report on Thursday, March 4th. Cowen decreased their price objective on shares of American Tower from $334.00 to $324.00 and set an “outperform” rating for the company in a research report on Friday, February 26th. Wolfe Research began coverage on shares of American Tower in a research report on Thursday, March 18th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft downgraded shares of American Tower from a “buy” rating to a “hold” rating and decreased their price objective for the company from $295.00 to $245.00 in a research report on Friday, December 11th. Finally, Zacks Investment Research downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $227.00 price objective for the company. in a research report on Tuesday, March 2nd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $270.09.
In other American Tower news, EVP Olivier Puech sold 320 shares of the business’s stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $220.00, for a total value of $70,400.00. Following the completion of the sale, the executive vice president now owns 17,146 shares of the company’s stock, valued at approximately $3,772,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Samme L. Thompson sold 2,000 shares of the stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $226.07, for a total transaction of $452,140.00. Following the transaction, the director now owns 22,337 shares in the company, valued at approximately $5,049,725.59. The disclosure for this sale can be found here. Insiders have sold a total of 5,588 shares of company stock valued at $1,241,500 in the last ninety days. 0.65% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. RWM Asset Management LLC bought a new position in American Tower during the 4th quarter worth $25,000. McClarren Financial Advisors Inc. bought a new position in American Tower during the 4th quarter worth $26,000. Vantage Consulting Group Inc bought a new position in American Tower during the 4th quarter worth $28,000. ForthRight Wealth Management LLC bought a new position in shares of American Tower in the 4th quarter valued at $28,000. Finally, Rosenberg Matthew Hamilton bought a new position in shares of American Tower in the 4th quarter valued at $29,000. 89.97% of the stock is currently owned by institutional investors and hedge funds.
American Tower stock opened at $238.82 on Friday. The company has a market cap of $106.13 billion, a P/E ratio of 56.46, a price-to-earnings-growth ratio of 1.57 and a beta of 0.25. American Tower has a 1-year low of $197.50 and a 1-year high of $272.20. The company has a fifty day simple moving average of $220.46 and a 200 day simple moving average of $229.49. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.73.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 29th. Investors of record on Tuesday, April 13th will be issued a dividend of $1.24 per share. This is an increase from American Tower’s previous quarterly dividend of $1.21. The ex-dividend date is Monday, April 12th. This represents a $4.96 annualized dividend and a dividend yield of 2.08%. American Tower’s payout ratio is presently 62.61%.
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 181,000 communications sites.
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