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American Tower (AMT) Stock Moves -1.58%: What You Should Know

·3 min read

In the latest trading session, American Tower (AMT) closed at $234.15, marking a -1.58% move from the previous day. This change was narrower than the S&P 500's 1.71% loss on the day. Elsewhere, the Dow lost 1.7%, while the tech-heavy Nasdaq lost 0.09%.

Coming into today, shares of the wireless communications infrastructure company had lost 10.3% in the past month. In that same time, the Finance sector lost 6.28%, while the S&P 500 lost 8.68%.

Investors will be hoping for strength from American Tower as it approaches its next earnings release. The company is expected to report EPS of $2.42, down 2.81% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.66 billion, up 8.51% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.84 per share and revenue of $10.65 billion. These totals would mark changes of +1.97% and +13.77%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for American Tower. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. American Tower currently has a Zacks Rank of #3 (Hold).

Digging into valuation, American Tower currently has a Forward P/E ratio of 24.18. For comparison, its industry has an average Forward P/E of 12.45, which means American Tower is trading at a premium to the group.

Meanwhile, AMT's PEG ratio is currently 2.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 2.08 as of yesterday's close.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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