$1.84 Billion in Sales Expected for American Tower Corp (NYSE:AMT) This Quarter

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Brokerages expect American Tower Corp (NYSE:AMT) to announce sales of $1.84 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for American Tower’s earnings, with estimates ranging from $1.82 billion to $1.86 billion. American Tower posted sales of $1.78 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The business is expected to announce its next earnings results before the market opens on Wednesday, July 31st.

On average, analysts expect that American Tower will report full year sales of $7.36 billion for the current fiscal year, with estimates ranging from $7.34 billion to $7.39 billion. For the next year, analysts forecast that the company will report sales of $7.80 billion, with estimates ranging from $7.53 billion to $8.06 billion. Zacks Investment Research’s sales 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 released its earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. American Tower had a net margin of 17.95% and a return on equity of 22.61%. American Tower’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share.

AMT has been the topic of several recent analyst reports. Wells Fargo & Co boosted their target price on shares of Sempra Energy from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Edward Jones lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. UBS Group restated a “buy” rating on shares of Fortis in a report on Friday, June 7th. SunTrust Banks restated a “hold” rating on shares of Tripadvisor in a report on Monday, May 6th. Finally, Morgan Stanley boosted their target price on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $185.94.

In other news, Director David E. Sharbutt sold 2,035 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $192.15, for a total transaction of $391,025.25. Following the completion of the sale, the director now directly owns 1,897 shares of the company’s stock, valued at $364,508.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James D. Taiclet, Jr. sold 11,863 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $195.88, for a total transaction of $2,323,724.44. The disclosure for this sale can be found here. Insiders have sold 292,222 shares of company stock worth $58,358,826 in the last quarter. Company insiders own 0.75% of the company’s stock.

Several large investors have recently bought and sold shares of AMT. Meridian Wealth Management LLC grew its position in American Tower by 56.3% in the 1st quarter. Meridian Wealth Management LLC now owns 4,133 shares of the real estate investment trust’s stock worth $814,000 after purchasing an additional 1,488 shares in the last quarter. Allstate Corp grew its position in American Tower by 1.4% in the 1st quarter. Allstate Corp now owns 37,744 shares of the real estate investment trust’s stock worth $7,438,000 after purchasing an additional 532 shares in the last quarter. State of Wisconsin Investment Board grew its position in American Tower by 1.0% in the 1st quarter. State of Wisconsin Investment Board now owns 679,810 shares of the real estate investment trust’s stock worth $133,963,000 after purchasing an additional 6,985 shares in the last quarter. Moors & Cabot Inc. bought a new stake in American Tower in the 1st quarter worth about $456,000. Finally, Cetera Investment Advisers grew its position in American Tower by 14.7% in the 4th quarter. Cetera Investment Advisers now owns 2,312 shares of the real estate investment trust’s stock worth $362,000 after purchasing an additional 296 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

AMT stock traded down $2.75 during midday trading on Friday, hitting $208.78. The stock had a trading volume of 44,256 shares, compared to its average volume of 1,796,260. The firm has a market cap of $92.82 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.71 and a beta of 0.49. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 4.31. American Tower has a 1-year low of $138.51 and a 1-year high of $218.79. The company’s fifty day moving average price is $208.98.

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 issued a dividend of $0.92 per share. The ex-dividend date is Tuesday, June 18th. This represents a $3.68 annualized dividend and a dividend yield of 1.76%. This is a positive change from American Tower’s previous quarterly dividend of $0.90. American Tower’s dividend payout ratio is currently 46.06%.

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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