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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 $255.44 in the latest trading session, marking a -1.52% move from the prior day. This change lagged the S&P 500's daily loss of 1.42%. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the wireless communications infrastructure company had lost 5.45% over the past month. This has lagged the Finance sector's gain of 5.07% and the S&P 500's gain of 0.39% in that time.
Wall Street will be looking for positivity from American Tower as it approaches its next earnings report date. The company is expected to report EPS of $2.20, up 6.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.42 billion, up 13.84% 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.
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 has moved 0.22% lower. American Tower is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, American Tower is currently trading at a Forward P/E ratio of 25.18. This represents a premium compared to its industry's average Forward P/E of 15.58.
Investors should also note that AMT has a PEG ratio of 1.89 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. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 2.79 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 97, putting it in the top 39% 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.
To follow AMT in the coming trading sessions, be sure to utilize Zacks.com.
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American Tower (AMT) Dips More Than Broader Markets: What You Should Know
American Tower (AMT - Free Report) closed at $255.44 in the latest trading session, marking a -1.52% move from the prior day. This change lagged the S&P 500's daily loss of 1.42%. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the wireless communications infrastructure company had lost 5.45% over the past month. This has lagged the Finance sector's gain of 5.07% and the S&P 500's gain of 0.39% in that time.
Wall Street will be looking for positivity from American Tower as it approaches its next earnings report date. The company is expected to report EPS of $2.20, up 6.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.42 billion, up 13.84% 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.
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 has moved 0.22% lower. American Tower is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, American Tower is currently trading at a Forward P/E ratio of 25.18. This represents a premium compared to its industry's average Forward P/E of 15.58.
Investors should also note that AMT has a PEG ratio of 1.89 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. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 2.79 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 97, putting it in the top 39% 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.
To follow AMT in the coming trading sessions, be sure to utilize Zacks.com.