American Tower Corp Price Target Raised to $108.00 at RBC Capital (AMT)
Investment analysts at RBC Capital increased their target price on shares of American Tower Corp (NYSE:AMT) from $105.00 to $108.00 in a note issued to investors on Friday. RBC Capital’s price objective suggests a potential upside of 14.47% from the company’s current price.
In other American Tower Corp news, CFO Thomas A. Bartlett sold 16,666 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $95.00, for a total transaction of $1,583,270.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
American Tower Corp (NYSE:AMT) traded down 0.04% on Friday, hitting $94.35. The stock had a trading volume of 1,720,376 shares. American Tower Corp has a 52 week low of $67.89 and a 52 week high of $97.56. The stock has a 50-day moving average of $90.89 and a 200-day moving average of $85.51. The company has a market cap of $37.351 billion and a P/E ratio of 53.03.
American Tower Corp (NYSE:AMT) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.15 million. During the same quarter last year, the company posted $0.25 earnings per share. American Tower Corp’s revenue was up 27.5% compared to the same quarter last year. Analysts expect that American Tower Corp will post $2.25 EPS for the current fiscal year.
AMT has been the subject of a number of other recent research reports. Analysts at Raymond James reiterated a “strong-buy” rating on shares of American Tower Corp in a research note on Thursday. They now have a $112.00 price target on the stock, up previously from $106.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of American Tower Corp in a research note on Thursday. They now have a $104.00 price target on the stock, up previously from $95.00. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of American Tower Corp in a research note on Thursday. They now have a $110.00 price target on the stock, up previously from $105.00. One equities research 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’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $102.13.
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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