American Tower Corp (NYSE:AMT) Expected to Post Earnings of $1.90 Per Share

Analysts expect that American Tower Corp (NYSE:AMT) will post $1.90 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for American Tower’s earnings, with the lowest EPS estimate coming in at $1.87 and the highest estimate coming in at $1.92. American Tower posted earnings of $2.40 per share during the same quarter last year, which would indicate a negative year over year growth rate of 20.8%. The company is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, February 25th.

According to Zacks, analysts expect that American Tower will report full year earnings of $7.89 per share for the current year, with EPS estimates ranging from $7.85 to $7.91. For the next year, analysts anticipate that the company will post earnings of $8.69 per share, with EPS estimates ranging from $8.46 to $8.88. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover American Tower.

A number of research firms recently weighed in on AMT. Cowen increased their price target on American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research report on Friday, November 1st. KeyCorp lifted their price target on American Tower from $242.00 to $254.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Morgan Stanley reissued a “hold” rating and set a $218.00 price objective (up previously from $216.00) on shares of American Tower in a report on Friday, November 22nd. Finally, Goldman Sachs Group raised American Tower from a “neutral” rating to a “buy” rating and boosted their price target for the company from $204.00 to $270.00 in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. American Tower currently has an average rating of “Hold” and a consensus price target of $224.36.

In other news, Director Samme L. Thompson sold 3,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $227.56, for a total transaction of $682,680.00. Following the completion of the transaction, the director now directly owns 22,598 shares of the company’s stock, valued at $5,142,400.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Olivier Puech sold 313 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $228.56, for a total value of $71,539.28. Following the transaction, the executive vice president now directly owns 18,723 shares of the company’s stock, valued at $4,279,328.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,574 shares of company stock valued at $1,043,846. 0.75% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cottage Street Advisors LLC bought a new position in American Tower during the 3rd quarter worth $754,000. Compass Ion Advisors LLC bought a new position in American Tower during the 4th quarter worth $202,000. Raymond James Trust N.A. increased its stake in American Tower by 2.1% during the 4th quarter. Raymond James Trust N.A. now owns 7,413 shares of the real estate investment trust’s stock worth $1,704,000 after acquiring an additional 156 shares during the period. Cibc Bank USA increased its stake in American Tower by 7.8% during the 4th quarter. Cibc Bank USA now owns 3,389 shares of the real estate investment trust’s stock worth $779,000 after acquiring an additional 246 shares during the period. Finally, BlackRock Inc. increased its stake in American Tower by 4.0% during the 2nd quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock worth $6,450,332,000 after acquiring an additional 1,213,664 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

AMT traded down $0.65 during trading hours on Friday, hitting $256.25. 1,600,697 shares of the stock were exchanged, compared to its average volume of 1,449,038. The stock has a market cap of $113.79 billion, a price-to-earnings ratio of 71.38, a price-to-earnings-growth ratio of 1.65 and a beta of 0.40. The company has a debt-to-equity ratio of 4.40, a current ratio of 0.53 and a quick ratio of 0.53. American Tower has a 12 month low of $171.71 and a 12 month high of $258.62. The stock has a 50-day simple moving average of $234.38 and a 200-day simple moving average of $223.24.

About American Tower

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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