$2.42 Billion in Sales Expected for American Tower Co. (REIT) (NYSE:AMT) This Quarter

Equities research analysts predict that American Tower Co. (REIT) (NYSE:AMT) will announce $2.42 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for American Tower’s earnings. The highest sales estimate is $2.45 billion and the lowest is $2.38 billion. American Tower posted sales of $2.12 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 14.2%. The business is expected to report its next quarterly earnings results on Thursday, February 24th.

On average, analysts expect that American Tower will report full year sales of $9.32 billion for the current fiscal year, with estimates ranging from $9.30 billion to $9.36 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $10.15 billion, with estimates ranging from $9.93 billion to $10.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow American Tower.

American Tower (NYSE:AMT) last released its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $1.58 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.69). The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.41 billion. American Tower had a net margin of 27.44% and a return on equity of 39.34%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.23 earnings per share.

A number of equities research analysts recently issued reports on AMT shares. Credit Suisse Group upped their price target on shares of American Tower from $324.00 to $328.00 and gave the company an “outperform” rating in a research note on Friday, October 29th. Morgan Stanley reduced their price target on shares of American Tower from $316.00 to $294.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 1st. KeyCorp increased their target price on shares of American Tower from $302.00 to $311.00 and gave the stock an “overweight” rating in a report on Friday, October 29th. JPMorgan Chase & Co. cut shares of American Tower from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $285.00 to $271.00 in a report on Wednesday, January 5th. Finally, Wells Fargo & Company lowered their price target on shares of American Tower from $305.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, November 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $294.47.

In other American Tower news, Director Pamela D. A. Reeve sold 3,590 shares of American Tower stock in a transaction that occurred on Thursday, December 9th. The stock was sold at an average price of $273.02, for a total transaction of $980,141.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joann A. Reed sold 866 shares of the business’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $260.50, for a total value of $225,593.00. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AMT. Bell Investment Advisors Inc purchased a new position in shares of American Tower during the third quarter valued at $27,000. Destiny Wealth Partners LLC acquired a new position in shares of American Tower during the 3rd quarter worth about $30,000. Canton Hathaway LLC acquired a new position in shares of American Tower during the 3rd quarter worth about $31,000. Pinnacle Holdings LLC acquired a new position in American Tower in the 3rd quarter valued at approximately $31,000. Finally, MV Capital Management Inc. raised its holdings in American Tower by 72.9% in the 3rd quarter. MV Capital Management Inc. now owns 121 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 51 shares in the last quarter. 89.57% of the stock is currently owned by institutional investors.

AMT opened at $264.50 on Friday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.30 and a quick ratio of 1.30. The company has a 50 day simple moving average of $273.37 and a two-hundred day simple moving average of $278.54. American Tower has a 1-year low of $197.50 and a 1-year high of $303.72. The firm has a market cap of $120.46 billion, a P/E ratio of 48.47, a PEG ratio of 2.03 and a beta of 0.37.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Shareholders of record on Monday, December 27th will be given a $1.39 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.31. The ex-dividend date of this dividend is Thursday, December 23rd. This represents a $5.56 annualized dividend and a yield of 2.10%. American Tower’s dividend payout ratio is presently 101.09%.

American Tower Company Profile

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

Further Reading: The mechanics of the bid-ask spread in trading

Get a free copy of the Zacks research report on American Tower (AMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.