American Tower (NYSE:AMT – Get Free Report) will announce its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $2.45 per share for the quarter. American Tower has set its FY 2024 guidance at 10.210-10.450 EPS and its FY24 guidance at $10.21-10.45 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.
American Tower (NYSE:AMT – Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the business earned $2.34 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts expect American Tower to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.
American Tower Stock Performance
American Tower stock opened at $171.69 on Monday. The company has a 50 day moving average price of $190.29 and a 200-day moving average price of $194.42. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. American Tower has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The company has a market capitalization of $80.07 billion, a PE ratio of 53.99, a P/E/G ratio of 1.36 and a beta of 0.67.
American Tower Cuts Dividend
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on AMT shares. BMO Capital Markets decreased their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Morgan Stanley boosted their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Barclays boosted their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.
Check Out Our Latest Report on American Tower
Insiders Place Their Bets
In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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