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

Wall Street brokerages expect that American Tower Co. (NYSE:AMTGet 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:AMTGet 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.

See Also

Get a free copy of the Zacks research report on American Tower (AMT)

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.