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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 $234.29 in the latest trading session, marking a -1.1% move from the prior day. This change lagged the S&P 500's 0.38% loss on the day. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Heading into today, shares of the wireless communications infrastructure company had lost 5.47% over the past month, lagging the Finance sector's loss of 3.22% and outpacing the S&P 500's loss of 6.25% in that time.
Investors will be hoping for strength from American Tower as it approaches its next earnings release, which is expected to be February 24, 2022. On that day, American Tower is projected to report earnings of $2.19 per share, which would represent year-over-year growth of 5.8%. Our most recent consensus estimate is calling for quarterly revenue of $2.42 billion, up 13.79% from the year-ago period.
Investors might also notice recent changes to analyst estimates for American Tower. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. American Tower is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, American Tower currently has a Forward P/E ratio of 22.95. Its industry sports an average Forward P/E of 14.81, so we one might conclude that American Tower is trading at a premium comparatively.
We can also see that AMT currently has a PEG ratio of 1.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.69 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 33% 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 $234.29 in the latest trading session, marking a -1.1% move from the prior day. This change lagged the S&P 500's 0.38% loss on the day. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Heading into today, shares of the wireless communications infrastructure company had lost 5.47% over the past month, lagging the Finance sector's loss of 3.22% and outpacing the S&P 500's loss of 6.25% in that time.
Investors will be hoping for strength from American Tower as it approaches its next earnings release, which is expected to be February 24, 2022. On that day, American Tower is projected to report earnings of $2.19 per share, which would represent year-over-year growth of 5.8%. Our most recent consensus estimate is calling for quarterly revenue of $2.42 billion, up 13.79% from the year-ago period.
Investors might also notice recent changes to analyst estimates for American Tower. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. American Tower is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, American Tower currently has a Forward P/E ratio of 22.95. Its industry sports an average Forward P/E of 14.81, so we one might conclude that American Tower is trading at a premium comparatively.
We can also see that AMT currently has a PEG ratio of 1.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.69 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 33% 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.