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American Tower (AMT) Gains As Market Dips: What You Should Know
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American Tower (AMT - Free Report) closed the most recent trading day at $188.13, moving +1.13% from the previous trading session. This change outpaced the S&P 500's 0.45% loss on the day. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 3.58%.
Prior to today's trading, shares of the wireless communications infrastructure company had gained 2.11% over the past month. This has outpaced the Finance sector's gain of 1.96% and lagged the S&P 500's gain of 5.01% in that time.
American Tower will be looking to display strength as it nears its next earnings release. On that day, American Tower is projected to report earnings of $2.36 per share, which would represent a year-over-year decline of 8.88%. Meanwhile, our latest consensus estimate is calling for revenue of $2.73 billion, up 2.23% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.66 per share and revenue of $11.01 billion. These totals would mark changes of -1.02% and +2.75%, respectively, from last year.
Investors should also note any 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. 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 has moved 0.05% lower within the past month. American Tower is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, American Tower is currently trading at a Forward P/E ratio of 19.26. This represents a premium compared to its industry's average Forward P/E of 11.26.
Meanwhile, AMT's PEG ratio is currently 1.24. 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. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 1.95 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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) Gains As Market Dips: What You Should Know
American Tower (AMT - Free Report) closed the most recent trading day at $188.13, moving +1.13% from the previous trading session. This change outpaced the S&P 500's 0.45% loss on the day. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 3.58%.
Prior to today's trading, shares of the wireless communications infrastructure company had gained 2.11% over the past month. This has outpaced the Finance sector's gain of 1.96% and lagged the S&P 500's gain of 5.01% in that time.
American Tower will be looking to display strength as it nears its next earnings release. On that day, American Tower is projected to report earnings of $2.36 per share, which would represent a year-over-year decline of 8.88%. Meanwhile, our latest consensus estimate is calling for revenue of $2.73 billion, up 2.23% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.66 per share and revenue of $11.01 billion. These totals would mark changes of -1.02% and +2.75%, respectively, from last year.
Investors should also note any 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. 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 has moved 0.05% lower within the past month. American Tower is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, American Tower is currently trading at a Forward P/E ratio of 19.26. This represents a premium compared to its industry's average Forward P/E of 11.26.
Meanwhile, AMT's PEG ratio is currently 1.24. 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. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 1.95 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.