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.
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.