American Tower Corp Assigned “BBB” Credit Rating (AMT)
American Tower Corp (NYSE:AMT) has received a “BBB” credit rating from Morningstar. The credit rating agency’s “BBB” rating indicates that the company is a moderate default risk. They also issued a neutral credit outlook for the company and gave their stock a four star rating.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of American Tower Corp from $104.00 to $109.00 in a research note on Wednesday, August 27th. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $104.79.
Shares of American Tower Corp (NYSE:AMT) opened at 98.60 on Tuesday. American Tower Corp has a one year low of $68.69 and a one year high of $99.90. The stock’s 50-day moving average is $95.55 and its 200-day moving average is $87.8. The company has a market cap of $39.060 billion and a price-to-earnings ratio of 55.49.
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. On average, analysts predict that American Tower Corp will post $2.26 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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