Zacks: Analysts Expect American Tower Corp (AMT) Will Announce Earnings of $1.68 Per Share

Wall Street analysts forecast that American Tower Corp (NYSE:AMT) will post $1.68 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for American Tower’s earnings. The lowest EPS estimate is $1.65 and the highest is $1.73. American Tower reported earnings of $0.47 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 257.4%. The business is scheduled to report its next quarterly earnings report on Monday, February 26th.

On average, analysts expect that American Tower will report full-year earnings of $6.77 per share for the current fiscal year, with EPS estimates ranging from $6.75 to $6.82. For the next fiscal year, analysts anticipate that the firm will post earnings of $7.64 per share, with EPS estimates ranging from $7.44 to $8.01. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow American Tower.

AMT has been the topic of several recent research reports. UBS Group boosted their price objective on shares of American Tower from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, September 11th. Morgan Stanley reissued an “overweight” rating and issued a $172.00 price objective on shares of American Tower in a research note on Wednesday, December 13th. Argus boosted their price objective on shares of American Tower to $170.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Friday, November 3rd. Finally, Jefferies Group boosted their price objective on shares of American Tower from $144.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. American Tower presently has an average rating of “Buy” and a consensus target price of $158.60.

In related news, Chairman James D. Taiclet, Jr. sold 34,667 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $142.52, for a total value of $4,940,740.84. Following the sale, the chairman now directly owns 305,374 shares in the company, valued at approximately $43,521,902.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $139.40, for a total transaction of $4,739,600.00. Following the completion of the sale, the chairman now owns 304,707 shares in the company, valued at $42,476,155.80. The disclosure for this sale can be found here. Insiders have sold a total of 104,251 shares of company stock worth $15,049,934 over the last 90 days. Insiders own 0.86% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in AMT. Howe & Rusling Inc. boosted its position in shares of American Tower by 1,608.0% in the 3rd quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 804 shares in the last quarter. Legacy Advisors LLC purchased a new stake in shares of American Tower in the 3rd quarter worth about $132,000. Fieldpoint Private Securities LLC boosted its position in shares of American Tower by 69.6% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 435 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of American Tower in the 3rd quarter worth about $173,000. Finally, Laurel Wealth Advisors Inc. purchased a new stake in shares of American Tower in the 3rd quarter worth about $202,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

American Tower (AMT) opened at $141.68 on Thursday. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $60,550.00, a price-to-earnings ratio of 53.87, a price-to-earnings-growth ratio of 1.48 and a beta of 0.73. American Tower has a 12 month low of $102.51 and a 12 month high of $155.28.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th will be given a dividend of $0.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, December 27th. American Tower’s payout ratio is presently 106.46%.

American Tower announced that its Board of Directors has approved a stock repurchase program on Thursday, December 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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American Tower Company Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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Earnings History and Estimates for American Tower (NYSE:AMT)

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