$2.34 Earnings Per Share Expected for American Tower Co. (REIT) (NYSE:AMT) This Quarter

Brokerages forecast that American Tower Co. (REIT) (NYSE:AMT) will announce earnings of $2.34 per share for the current quarter, according to Zacks. Seven analysts have issued estimates for American Tower’s earnings, with estimates ranging from $2.26 to $2.40. American Tower posted earnings per share of $2.23 in the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The company is expected to announce its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that American Tower will report full year earnings of $9.53 per share for the current fiscal year, with EPS estimates ranging from $9.35 to $9.66. For the next year, analysts expect that the firm will report earnings of $10.30 per share, with EPS estimates ranging from $9.90 to $10.52. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for American Tower.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, July 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing the Zacks’ consensus estimate of $2.27 by ($0.62). American Tower had a net margin of 25.84% and a return on equity of 44.60%.

A number of research analysts have recently commented on AMT shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Tower from $250.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, July 8th. They noted that the move was a valuation call. Wells Fargo & Company boosted their target price on American Tower from $280.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, July 16th. KeyCorp boosted their target price on American Tower from $285.00 to $302.00 and gave the stock an “overweight” rating in a report on Monday, July 19th. They noted that the move was a valuation call. Truist Securities boosted their target price on American Tower from $280.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Finally, Raymond James boosted their target price on American Tower from $261.00 to $296.00 and gave the stock an “outperform” rating in a report on Tuesday, August 3rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $298.29.

In related news, Director David E. Sharbutt sold 739 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $300.71, for a total transaction of $222,224.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Steven O. Vondran sold 8,046 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $279.09, for a total value of $2,245,558.14. Following the sale, the executive vice president now directly owns 25,755 shares in the company, valued at $7,187,962.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,085 shares of company stock valued at $2,552,330. 0.68% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Wagner Wealth Management LLC acquired a new position in shares of American Tower during the first quarter valued at $26,000. Harvest Fund Management Co. Ltd acquired a new position in shares of American Tower during the second quarter valued at $34,000. Allred Capital Management LLC bought a new position in American Tower during the first quarter valued at about $35,000. Goodwin Investment Advisory bought a new position in American Tower during the first quarter valued at about $36,000. Finally, Albion Financial Group UT bought a new position in American Tower during the second quarter valued at about $36,000. 89.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AMT traded down $0.69 on Friday, reaching $295.71. 22,379 shares of the company traded hands, compared to its average volume of 1,857,303. American Tower has a fifty-two week low of $197.50 and a fifty-two week high of $303.72. The company has a 50 day moving average of $286.28 and a 200 day moving average of $260.52. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 4.83. The stock has a market capitalization of $134.59 billion, a PE ratio of 59.76, a P/E/G ratio of 2.07 and a beta of 0.24.

About American Tower

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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

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