Barclays Reaffirms “Overweight” Rating for American Tower Corp (AMT)
American Tower Corp (NYSE:AMT)‘s stock had its “overweight” rating restated by research analysts at Barclays in a report released on Wednesday. They currently have a $109.00 price objective on the stock, up from their previous price objective of $104.00. Barclays’ target price points to a potential upside of 10.55% from the company’s current price.
Shares of American Tower Corp (NYSE:AMT) traded up 0.27% on Wednesday, hitting $98.87. The stock had a trading volume of 358,181 shares. American Tower Corp has a 52 week low of $68.69 and a 52 week high of $99.90. The stock has a 50-day moving average of $94.7 and a 200-day moving average of $87.53. The company has a market cap of $39.167 billion and a P/E ratio of 55.39.
American Tower Corp (NYSE:AMT) last announced its earnings results 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. On average, analysts predict that American Tower Corp will post $2.25 earnings per share for the current fiscal year.
AMT has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of American Tower Corp from $105.00 to $108.00 in a research note on Friday, August 1st. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of American Tower Corp in a research note on Thursday, July 31st. They now have a $112.00 price target on the stock, up previously from $106.00. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of American Tower Corp in a research note on Thursday, July 31st. They now have a $110.00 price target on the stock, up previously from $105.00. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. American Tower Corp currently has a consensus rating of “Buy” and an average price target of $104.79.
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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