American Tower Corp Receives Average Rating of “Buy” from Brokerages (NYSE:AMT)
American Tower Corp (NYSE:AMT) has been given an average recommendation of “Buy” by the seventeen brokerages that are covering the company, AmericanBankingNews.com reports. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $97.29.
In other American Tower Corp news, CEO James D. Taiclet, Jr. sold 40,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $91.82, for a total value of $3,672,800.00. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on AMT shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of American Tower Corp in a research note on Monday, July 21st. They now have a $105.00 price target on the stock, up previously from $93.00. Separately, analysts at Credit Suisse initiated coverage on shares of American Tower Corp in a research note on Friday, June 13th. They set an “outperform” rating and a $101.00 price target on the stock. Finally, 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.
American Tower Corp (NYSE:AMT) opened at 92.22 on Tuesday. American Tower Corp has a 1-year low of $67.89 and a 1-year high of $93.30. The stock’s 50-day moving average is $90.22 and its 200-day moving average is $85.0. The company has a market cap of $36.496 billion and a price-to-earnings ratio of 63.27.
American Tower Corp (NYSE:AMT) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.51 EPS 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. On average, analysts predict that American Tower Corp will post $2.20 earnings per share for the current fiscal year.
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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