$1.93 EPS Expected for American Tower Corp (NYSE:AMT) This Quarter

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Wall Street analysts expect that American Tower Corp (NYSE:AMT) will announce earnings per share of $1.93 for the current fiscal quarter, Zacks reports. Six analysts have provided 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 reported earnings of $1.90 per share during the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The firm is expected to issue its next quarterly earnings results before the market opens on Wednesday, July 31st.

On average, analysts expect that American Tower will report full year earnings of $7.78 per share for the current fiscal year, with EPS estimates ranging from $7.71 to $7.82. For the next financial year, analysts forecast that the business will report earnings of $8.71 per share, with EPS estimates ranging from $8.50 to $8.89. Zacks’ earnings per share averages are an 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 Friday, May 3rd. The real estate investment trust reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.04. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm posted $0.63 EPS. American Tower’s revenue was up 4.1% on a year-over-year basis.

AMT has been the topic of several research reports. Wells Fargo & Co increased their price target on shares of Sempra Energy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. SunTrust Banks reiterated a “hold” rating on shares of Tripadvisor in a report on Monday, May 6th. Morgan Stanley increased their price target on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Royal Bank of Canada increased their price target on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a “sector perform” rating in a report on Thursday, May 9th. Finally, UBS Group reiterated a “buy” rating on shares of Fortis in a report on Friday, June 7th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $185.94.

NYSE:AMT traded down $2.75 during midday trading on Thursday, hitting $208.78. The company’s stock had a trading volume of 44,256 shares, compared to its average volume of 1,796,260. American Tower has a fifty-two week low of $138.51 and a fifty-two week high of $218.79. The company’s 50 day simple moving average is $208.98. 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 $92.82 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.71 and a beta of 0.49.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 19th will be paid a $0.92 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $3.68 dividend on an annualized basis and a yield of 1.76%. This is a boost from American Tower’s previous quarterly dividend of $0.90. American Tower’s dividend payout ratio (DPR) is currently 46.06%.

In related news, CEO James D. Taiclet, Jr. sold 57,438 shares of American Tower stock in a transaction on Monday, July 1st. The shares were sold at an average price of $201.40, for a total value of $11,568,013.20. Following the sale, the chief executive officer now owns 255,414 shares of the company’s stock, valued at approximately $51,440,379.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William H. Hess sold 12,768 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $192.60, for a total value of $2,459,116.80. Following the completion of the transaction, the executive vice president now owns 62,663 shares in the company, valued at approximately $12,068,893.80. The disclosure for this sale can be found here. Insiders sold a total of 292,222 shares of company stock worth $58,358,826 in the last three months. 0.75% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Lourd Capital LLC lifted its holdings in American Tower by 4.7% in the 2nd quarter. Lourd Capital LLC now owns 1,545 shares of the real estate investment trust’s stock valued at $316,000 after purchasing an additional 69 shares in the last quarter. PFS Investments Inc. purchased a new position in American Tower in the 2nd quarter valued at $548,000. Campbell & CO Investment Adviser LLC lifted its holdings in American Tower by 24.4% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 2,637 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 518 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in American Tower by 36.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,176 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 312 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC lifted its holdings in American Tower by 31.4% in the 2nd quarter. Douglass Winthrop Advisors LLC now owns 2,987 shares of the real estate investment trust’s stock valued at $611,000 after purchasing an additional 713 shares in the last quarter. Institutional investors own 94.28% 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 approximately 171,000 communications sites.

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

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