American Tower Corp Reaches New 12-Month High at $90.45 (AMT)
American Tower Corp (NYSE:AMT) shares reached a new 52-week high during trading on Friday , AnalystRatings.NET reports. The stock traded as high as $90.45 and last traded at $90.38, with a volume of 600,042 shares traded. The stock had previously closed at $89.73.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of American Tower Corp in a research note on Wednesday, May 28th. They now have a $93.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of American Tower Corp from $102.00 to $105.00 in a research note on Monday, May 5th. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of American Tower Corp in a research note on Friday, May 2nd. They now have a $95.00 price target on the stock, up previously from $90.00. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. American Tower Corp presently has an average rating of “Buy” and an average target price of $95.07.
The stock’s 50-day moving average is $87.10 and its 200-day moving average is $82.10. The company has a market cap of $35.783 billion and a price-to-earnings ratio of 61.46.
American Tower Corp (NYSE:AMT) last released its earnings data on Thursday, May 1st. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.01. The company had revenue of $984.10 million for the quarter, compared to the consensus estimate of $968.18 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Analysts expect that American Tower Corp will post $2.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 16th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from American Tower Corp’s previous quarterly dividend of $0.32.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures.
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