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American Tower (AMT) Dips More Than Broader Markets: What You Should Know
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American Tower (AMT - Free Report) closed at $223.35 in the latest trading session, marking a -0.82% move from the prior day. This change lagged the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Heading into today, shares of the wireless communications infrastructure company had gained 6.93% over the past month, outpacing the Finance sector's gain of 5.9% and the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from American Tower as it approaches its next earnings release. The company is expected to report EPS of $2.23, up 2.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.67 billion, up 9.08% from the year-ago period.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.41% lower. American Tower is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that American Tower has a Forward P/E ratio of 22.52 right now. For comparison, its industry has an average Forward P/E of 12.09, which means American Tower is trading at a premium to the group.
It is also worth noting that AMT currently has a PEG ratio of 1.98. 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 was holding an average PEG ratio of 1.99 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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American Tower (AMT) Dips More Than Broader Markets: What You Should Know
American Tower (AMT - Free Report) closed at $223.35 in the latest trading session, marking a -0.82% move from the prior day. This change lagged the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Heading into today, shares of the wireless communications infrastructure company had gained 6.93% over the past month, outpacing the Finance sector's gain of 5.9% and the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from American Tower as it approaches its next earnings release. The company is expected to report EPS of $2.23, up 2.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.67 billion, up 9.08% from the year-ago period.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.41% lower. American Tower is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that American Tower has a Forward P/E ratio of 22.52 right now. For comparison, its industry has an average Forward P/E of 12.09, which means American Tower is trading at a premium to the group.
It is also worth noting that AMT currently has a PEG ratio of 1.98. 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 was holding an average PEG ratio of 1.99 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.