American Tower (AMT) closed at $237.47 in the latest trading session, marking a -0.02% move from the prior day. This change was narrower than the S&P 500's 1.57% loss on the day. Meanwhile, the Dow lost 1.57%, and the Nasdaq, a tech-heavy index, lost 1.89%.
Heading into today, shares of the wireless communications infrastructure company had gained 4.23% over the past month, outpacing the Finance sector's gain of 0.29% and the S&P 500's gain of 2.35% in that time.
Investors will be hoping for strength from AMT as it approaches its next earnings release. In that report, analysts expect AMT to post earnings of $1.90 per share. This would mark a year-over-year decline of 20.83%. Meanwhile, our latest consensus estimate is calling for revenue of $1.93 billion, down 9.32% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for AMT. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.48% higher. AMT is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, AMT is currently trading at a Forward P/E ratio of 27.33. This valuation marks a premium compared to its industry's average Forward P/E of 15.76.
Also, we should mention that AMT has a PEG ratio of 1.47. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 3.61 based on yesterday's closing prices.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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American Tower Corporation (REIT) (AMT) : Free Stock Analysis Report
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