Wall Street analysts expect American Tower Corp (NYSE:AMT) to report earnings of $2.04 per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for American Tower’s earnings. The lowest EPS estimate is $2.01 and the highest is $2.08. American Tower reported earnings of $2.01 per share in the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The business is expected to issue its next quarterly earnings report on Wednesday, July 29th.

According to Zacks, analysts expect that American Tower will report full-year earnings of $8.27 per share for the current fiscal year, with EPS estimates ranging from $8.19 to $8.52. For the next financial year, analysts forecast that the firm will report earnings of $9.17 per share, with EPS estimates ranging from $9.06 to $9.41. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for American Tower.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.12). American Tower had a return on equity of 35.63% and a net margin of 24.55%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the business posted $1.84 EPS. The company’s revenue was up 9.9% compared to the same quarter last year.

Several equities research analysts recently weighed in on the company. Edward Jones raised American Tower from a “hold” rating to a “buy” rating in a report on Tuesday, March 24th. Wells Fargo & Co raised their target price on American Tower from $265.00 to $272.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. UBS Group upgraded American Tower from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Thursday, April 2nd. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Finally, Morgan Stanley raised their target price on American Tower from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. American Tower presently has a consensus rating of “Buy” and a consensus price target of $261.86.

In related news, EVP Steven O. Vondran sold 1,388 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $259.50, for a total value of $360,186.00. Following the completion of the sale, the executive vice president now owns 24,386 shares in the company, valued at approximately $6,328,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven O. Vondran sold 1,154 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $233.24, for a total value of $269,158.96. Following the completion of the sale, the executive vice president now owns 26,315 shares of the company’s stock, valued at approximately $6,137,710.60. The disclosure for this sale can be found here. Insiders sold a total of 9,881 shares of company stock valued at $2,395,563 in the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Cipher Capital LP increased its stake in American Tower by 228.0% in the 4th quarter. Cipher Capital LP now owns 62,280 shares of the real estate investment trust’s stock worth $14,313,000 after purchasing an additional 43,292 shares during the period. Bluefin Trading LLC purchased a new position in shares of American Tower during the fourth quarter valued at approximately $2,700,000. Advisor Group Holdings Inc. purchased a new position in shares of American Tower during the first quarter valued at approximately $22,503,000. Solstein Capital LLC purchased a new position in shares of American Tower during the fourth quarter valued at approximately $256,000. Finally, Courier Capital LLC increased its stake in shares of American Tower by 9.9% during the second quarter. Courier Capital LLC now owns 2,415 shares of the real estate investment trust’s stock valued at $638,000 after buying an additional 217 shares during the period. 91.12% of the stock is currently owned by institutional investors and hedge funds.

AMT traded down $1.27 during trading hours on Friday, hitting $264.70. The stock had a trading volume of 1,373,272 shares, compared to its average volume of 2,093,579. The company’s fifty day simple moving average is $256.28 and its 200 day simple moving average is $240.20. American Tower has a 1 year low of $174.32 and a 1 year high of $269.73. The stock has a market cap of $117.91 billion, a PE ratio of 62.31, a price-to-earnings-growth ratio of 2.26 and a beta of 0.45. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 5.40.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be given a $1.10 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $4.40 dividend on an annualized basis and a yield of 1.66%. American Tower’s payout ratio is presently 56.92%.

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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Earnings History and Estimates for American Tower (NYSE:AMT)

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