We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
American Tower (AMT) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
American Tower (AMT - Free Report) closed the most recent trading day at $196.01, moving -1.18% from the previous trading session. This change lagged the S&P 500's 0.79% loss on the day. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Prior to today's trading, shares of the wireless communications infrastructure company had gained 3.89% over the past month. This has lagged the Finance sector's gain of 3.99% and the S&P 500's gain of 4.16% in that time.
American Tower will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect American Tower to post earnings of $2.35 per share. This would mark a year-over-year decline of 9.27%. Our most recent consensus estimate is calling for quarterly revenue of $2.73 billion, up 2.24% from the year-ago period.
AMT's full-year Zacks Consensus Estimates are calling for earnings of $9.64 per share and revenue of $10.99 billion. These results would represent year-over-year changes of -1.23% and +2.64%, respectively.
Any recent changes to analyst estimates for American Tower should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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 0.04% lower within the past month. American Tower is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that American Tower has a Forward P/E ratio of 20.57 right now. This represents a premium compared to its industry's average Forward P/E of 11.8.
Meanwhile, AMT's PEG ratio is currently 1.32. 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 2.18 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 161, which puts it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
American Tower (AMT) Dips More Than Broader Markets: What You Should Know
American Tower (AMT - Free Report) closed the most recent trading day at $196.01, moving -1.18% from the previous trading session. This change lagged the S&P 500's 0.79% loss on the day. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Prior to today's trading, shares of the wireless communications infrastructure company had gained 3.89% over the past month. This has lagged the Finance sector's gain of 3.99% and the S&P 500's gain of 4.16% in that time.
American Tower will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect American Tower to post earnings of $2.35 per share. This would mark a year-over-year decline of 9.27%. Our most recent consensus estimate is calling for quarterly revenue of $2.73 billion, up 2.24% from the year-ago period.
AMT's full-year Zacks Consensus Estimates are calling for earnings of $9.64 per share and revenue of $10.99 billion. These results would represent year-over-year changes of -1.23% and +2.64%, respectively.
Any recent changes to analyst estimates for American Tower should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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 0.04% lower within the past month. American Tower is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that American Tower has a Forward P/E ratio of 20.57 right now. This represents a premium compared to its industry's average Forward P/E of 11.8.
Meanwhile, AMT's PEG ratio is currently 1.32. 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 2.18 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 161, which puts it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.