American Tower (AMT) Stock Moves -0.35%: What You Should Know
American Tower (AMT) ended the recent trading session at $205.42, demonstrating a -0.35% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 1.02%. Elsewhere, the Dow saw a downswing of 1.04%, while the tech-heavy Nasdaq depreciated by 1.65%.
The the stock of wireless communications infrastructure company has risen by 8.8% in the past month, leading the Finance sector's gain of 3.9% and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of American Tower in its forthcoming earnings report. On that day, American Tower is projected to report earnings of $2.51 per share, which would represent a year-over-year decline of 1.18%. Meanwhile, our latest consensus estimate is calling for revenue of $2.8 billion, up 1.2% from the prior-year quarter.
AMT's full-year Zacks Consensus Estimates are calling for earnings of $10.27 per share and revenue of $11.21 billion. These results would represent year-over-year changes of +4.05% and +0.56%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for American Tower. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.71% increase. American Tower presently features a Zacks Rank of #3 (Hold).
With respect to valuation, American Tower is currently being traded at a Forward P/E ratio of 20.07. For comparison, its industry has an average Forward P/E of 11.19, which means American Tower is trading at a premium to the group.
Investors should also note that AMT has a PEG ratio of 1.71 right now. 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. AMT's industry had an average PEG ratio of 2.38 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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American Tower Corporation (AMT) : Free Stock Analysis Report
