American Tower Corp Given New $108.00 Price Target at Canaccord Genuity (AMT)
Investment analysts at Canaccord Genuity raised their price target on shares of American Tower Corp (NYSE:AMT) from $100.00 to $108.00 in a note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price indicates a potential upside of 14.47% from the company’s current price.
A number of other firms have also recently commented on AMT. 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. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. American Tower Corp presently has an average rating of “Buy” and an average target price of $102.13.
American Tower Corp (NYSE:AMT) traded down 0.04% during mid-day trading on Thursday, hitting $94.35. The stock had a trading volume of 1,720,376 shares. American Tower Corp has a one year low of $67.89 and a one year high of $97.56. The stock’s 50-day moving average is $90.89 and its 200-day moving average is $85.51. The company has a market cap of $37.363 billion and a price-to-earnings 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 (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, analysts predict that American Tower Corp will post $2.25 earnings per share for the current fiscal year.
In other American Tower Corp news, CFO Thomas A. Bartlett sold 16,666 shares of American Tower Corp stock on the open market in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $95.00, for a total value of $1,583,270.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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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