Goldman Sachs Begins Coverage on American Tower Corp (AMT)
A number of other firms have also recently commented on AMT. 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 equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. American Tower Corp currently has a consensus rating of “Buy” and an average target price of $104.79.
Shares of American Tower Corp (NYSE:AMT) traded up 0.25% during mid-day trading on Tuesday, hitting $98.85. The stock had a trading volume of 763,557 shares. American Tower Corp has a 52 week low of $68.69 and a 52 week 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 $39.159 billion and a price-to-earnings ratio of 55.39.
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 $2.26 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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