American Tower Corp Now Covered by Analysts at Credit Suisse (AMT)
Equities research analysts at Credit Suisse initiated coverage on shares of American Tower Corp (NYSE:AMT) in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $101.00 price target on the stock. Credit Suisse’s price objective suggests a potential upside of 14.46% from the company’s current price.
Several other analysts have also 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $94.59.
Shares of American Tower Corp (NYSE:AMT) traded down 0.10% on Friday, hitting $87.81. The stock had a trading volume of 91,691 shares. American Tower Corp has a 1-year low of $67.89 and a 1-year high of $90.73. The stock’s 50-day moving average is $87.73 and its 200-day moving average is $82.52. The company has a market cap of $34.750 billion and a price-to-earnings ratio of 60.21.
American Tower Corp (NYSE:AMT) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, analysts predict that American Tower Corp will post $2.20 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 16th. Investors 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 1.54%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase 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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