American Tower Co. (NYSE:AMT) Expected to Announce Quarterly Sales of $2.65 Billion

Wall Street brokerages expect that American Tower Co. (NYSE:AMT – Get Rating) will report sales of $2.65 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for American Tower’s earnings, with the lowest sales estimate coming in at $2.61 billion and the highest estimate coming in at $2.69 billion. American Tower reported sales of $2.30 billion in the same quarter last year, which indicates a positive year over year growth rate of 15.2%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that American Tower will report full year sales of $10.66 billion for the current year, with estimates ranging from $10.61 billion to $10.73 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $11.18 billion, with estimates ranging from $11.09 billion to $11.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for American Tower.

American Tower (NYSE:AMT – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). American Tower had a net margin of 26.72% and a return on equity of 30.44%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis.

Several analysts recently issued reports on AMT shares. StockNews.com began coverage on American Tower in a report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley upped their price objective on American Tower from $274.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. Barclays dropped their price objective on American Tower from €295.00 ($310.53) to €284.00 ($298.95) in a research note on Friday, March 18th. Raymond James decreased their target price on American Tower from $294.00 to $279.00 and set an “outperform” rating on the stock in a research report on Monday, February 28th. Finally, Wells Fargo & Company upped their target price on American Tower from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, March 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, American Tower presently has a consensus rating of “Hold” and an average target price of $288.92.

In other American Tower news, CFO Rodney M. Smith sold 25,389 shares of the firm’s stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $270.00, for a total value of $6,855,030.00. Following the sale, the chief financial officer now owns 52,398 shares of the company’s stock, valued at approximately $14,147,460. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AMT. Norges Bank bought a new position in shares of American Tower in the 4th quarter valued at $1,148,150,000. BlackRock Inc. lifted its stake in shares of American Tower by 6.7% in the 4th quarter. BlackRock Inc. now owns 36,636,712 shares of the real estate investment trust’s stock valued at $10,716,237,000 after acquiring an additional 2,302,202 shares during the last quarter. State Street Corp lifted its stake in shares of American Tower by 5.1% in the 4th quarter. State Street Corp now owns 19,702,540 shares of the real estate investment trust’s stock valued at $5,789,646,000 after acquiring an additional 953,582 shares during the last quarter. Liontrust Investment Partners LLP bought a new position in shares of American Tower in the 3rd quarter valued at $240,259,000. Finally, Morgan Stanley lifted its stake in shares of American Tower by 26.7% in the 2nd quarter. Morgan Stanley now owns 4,272,674 shares of the real estate investment trust’s stock valued at $1,154,222,000 after acquiring an additional 900,101 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

AMT opened at $231.09 on Tuesday. American Tower has a 52-week low of $220.00 and a 52-week high of $303.72. The firm has a market capitalization of $105.35 billion, a PE ratio of 39.98, a PEG ratio of 2.46 and a beta of 0.49. The company has a debt-to-equity ratio of 4.12, a quick ratio of 0.51 and a current ratio of 0.51. The business’s 50-day simple moving average is $247.44 and its 200 day simple moving average is $256.73.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Wednesday, April 13th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Tuesday, April 12th. This is an increase from American Tower’s previous quarterly dividend of $1.39. American Tower’s dividend payout ratio (DPR) is currently 96.89%.

American Tower Company Profile (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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