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American Tower (AMT) Gains But Lags Market: What You Should Know
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American Tower (AMT - Free Report) closed the most recent trading day at $196.84, moving +0.72% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Prior to today's trading, shares of the wireless communications infrastructure company had gained 1.25% over the past month. This has lagged the Finance sector's gain of 3.29% and the S&P 500's gain of 3.18% in that time.
Investors will be hoping for strength from American Tower as it approaches its next earnings release, which is expected to be July 27, 2023. The company is expected to report EPS of $2.35, down 9.27% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.73 billion, up 2.24% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.64 per share and revenue of $10.99 billion. These totals would mark changes of -1.23% and +2.64%, respectively, from last year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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 currently a Zacks Rank #3 (Hold).
Looking at its valuation, American Tower is holding a Forward P/E ratio of 20.26. This represents a premium compared to its industry's average Forward P/E of 11.68.
Meanwhile, AMT's PEG ratio is currently 1.3. 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 2.09 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 155, putting it in the bottom 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.
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 But Lags Market: What You Should Know
American Tower (AMT - Free Report) closed the most recent trading day at $196.84, moving +0.72% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Prior to today's trading, shares of the wireless communications infrastructure company had gained 1.25% over the past month. This has lagged the Finance sector's gain of 3.29% and the S&P 500's gain of 3.18% in that time.
Investors will be hoping for strength from American Tower as it approaches its next earnings release, which is expected to be July 27, 2023. The company is expected to report EPS of $2.35, down 9.27% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.73 billion, up 2.24% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.64 per share and revenue of $10.99 billion. These totals would mark changes of -1.23% and +2.64%, respectively, from last year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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 currently a Zacks Rank #3 (Hold).
Looking at its valuation, American Tower is holding a Forward P/E ratio of 20.26. This represents a premium compared to its industry's average Forward P/E of 11.68.
Meanwhile, AMT's PEG ratio is currently 1.3. 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 2.09 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 155, putting it in the bottom 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.