American Tower Corp (AMT) Expected to Announce Quarterly Sales of $1.69 Billion

Brokerages expect American Tower Corp (NYSE:AMT) to post sales of $1.69 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for American Tower’s earnings. The lowest sales estimate is $1.67 billion and the highest is $1.71 billion. American Tower reported sales of $1.54 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, February 27th.

According to Zacks, analysts expect that American Tower will report full-year sales of $1.69 billion for the current year, with estimates ranging from $6.63 billion to $6.67 billion. For the next year, analysts expect that the company will post sales of $7.21 billion per share, with estimates ranging from $6.86 billion to $7.56 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover American Tower.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.92). American Tower had a return on equity of 16.98% and a net margin of 18.63%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion.

A number of research firms have recently weighed in on AMT. Zacks Investment Research downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. KeyCorp set a $156.00 price target on shares of American Tower and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Macquarie raised their price target on shares of American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 1st. ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Cowen reissued a “buy” rating on shares of American Tower in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $158.60.

Shares of American Tower (NYSE:AMT) opened at $137.62 on Monday. American Tower has a 1 year low of $102.73 and a 1 year high of $155.28. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $59,020.00, a P/E ratio of 52.33, a PEG ratio of 1.43 and a beta of 0.73.

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

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Thursday, December 28th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, December 27th. This is a boost from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.03%. American Tower’s dividend payout ratio (DPR) is 106.46%.

In related news, Chairman James D. Taiclet, Jr. sold 34,667 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $142.52, for a total transaction of $4,940,740.84. Following the transaction, the chairman now directly owns 305,374 shares in the company, valued at $43,521,902.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $151.20, for a total value of $5,140,800.00. The disclosure for this sale can be found here. Insiders have sold 75,251 shares of company stock worth $11,026,134 over the last 90 days. 0.86% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Howe & Rusling Inc. lifted its stake in American Tower by 1,608.0% in the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 804 shares during the last quarter. Legacy Advisors LLC bought a new stake in American Tower in the third quarter valued at $132,000. Fieldpoint Private Securities LLC lifted its stake in American Tower by 69.6% in the third quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 435 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in American Tower in the third quarter valued at $173,000. Finally, Laurel Wealth Advisors Inc. bought a new stake in American Tower in the third quarter valued at $202,000. Institutional investors own 91.60% of the company’s stock.

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About American Tower

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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