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American Tower (AMT) Tops Q3 Earnings, Revenue Estimates
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American Tower Corp. (AMT - Free Report) is a real estate investment trust and a leading wireless tower operator. The firm through its subsidiaries owns, operates and develops wireless and broadcast communications real estate.
Notably, American Tower has been aggressively buying towers in emerging markets. We believe the company’s acquisition spree should help drive its top line, going forward. Moreover, American Tower is certain that strength in its tower portfolio will help it double its AFFO per share by 2017. Further, higher adoption of smartphones/tablets, increased deployment of 3G/4G networks, significant margin improvement and dividend hikes also bode well.
On the flip side, the ongoing consolidation trend among telecom and cable TV operators may generate significant financial uncertainty for the company. To add to that, intensifying competition, high customer concentration, mounting operating expenses and a highly leveraged balance sheet remain headwinds.
The company has generated a negative average earnings surprise of 6.16% in the previous four quarters. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: American Tower reported third quarter earnings of $1.49, higher than the Zacks Consensus Estimate of $1.39.
Revenue: Revenues of $1,515 million came above the Zacks Consensus Estimate of $1,508 million.
Key Stats to Note: In the property segment, the company’s core growth was 23.5% in the third quarter of 2016.
Check back later for our full write up on this American Tower earnings report later!
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American Tower (AMT) Tops Q3 Earnings, Revenue Estimates
American Tower Corp. (AMT - Free Report) is a real estate investment trust and a leading wireless tower operator. The firm through its subsidiaries owns, operates and develops wireless and broadcast communications real estate.
Notably, American Tower has been aggressively buying towers in emerging markets. We believe the company’s acquisition spree should help drive its top line, going forward. Moreover, American Tower is certain that strength in its tower portfolio will help it double its AFFO per share by 2017. Further, higher adoption of smartphones/tablets, increased deployment of 3G/4G networks, significant margin improvement and dividend hikes also bode well.
On the flip side, the ongoing consolidation trend among telecom and cable TV operators may generate significant financial uncertainty for the company. To add to that, intensifying competition, high customer concentration, mounting operating expenses and a highly leveraged balance sheet remain headwinds.
American Tower currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company has generated a negative average earnings surprise of 6.16% in the previous four quarters. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: American Tower reported third quarter earnings of $1.49, higher than the Zacks Consensus Estimate of $1.39.
Revenue: Revenues of $1,515 million came above the Zacks Consensus Estimate of $1,508 million.
Key Stats to Note: In the property segment, the company’s core growth was 23.5% in the third quarter of 2016.
Check back later for our full write up on this American Tower earnings report later!
AMER TOWER CORP Price and EPS Surprise
AMER TOWER CORP Price and EPS Surprise | AMER TOWER CORP Quote
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Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>