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American Tower (AMT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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American Tower (AMT - Free Report) closed the most recent trading day at $164.24, moving -0.83% from the previous trading session. This change lagged the S&P 500's 0.63% loss on the day. Elsewhere, the Dow lost 0.51%, while the tech-heavy Nasdaq lost 0.63%.
The wireless communications infrastructure company's stock has dropped by 6.4% in the past month, falling short of the Finance sector's loss of 2.46% and the S&P 500's loss of 2.35%.
The investment community will be closely monitoring the performance of American Tower in its forthcoming earnings report. The company is scheduled to release its earnings on October 26, 2023. The company is predicted to post an EPS of $2.34, indicating a 0.85% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.76 billion, up 3.29% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.72 per share and a revenue of $11.06 billion, indicating changes of -0.41% and +3.26%, respectively, from the former year.
Any recent changes to analyst estimates for American Tower should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, American Tower possesses a Zacks Rank of #3 (Hold).
In terms of valuation, American Tower is currently trading at a Forward P/E ratio of 17.05. This denotes a premium relative to the industry's average Forward P/E of 10.35.
Investors should also note that AMT has a PEG ratio of 1.21 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the REIT and Equity Trust - Other industry held an average PEG ratio of 2.21.
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 evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
American Tower (AMT - Free Report) closed the most recent trading day at $164.24, moving -0.83% from the previous trading session. This change lagged the S&P 500's 0.63% loss on the day. Elsewhere, the Dow lost 0.51%, while the tech-heavy Nasdaq lost 0.63%.
The wireless communications infrastructure company's stock has dropped by 6.4% in the past month, falling short of the Finance sector's loss of 2.46% and the S&P 500's loss of 2.35%.
The investment community will be closely monitoring the performance of American Tower in its forthcoming earnings report. The company is scheduled to release its earnings on October 26, 2023. The company is predicted to post an EPS of $2.34, indicating a 0.85% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.76 billion, up 3.29% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.72 per share and a revenue of $11.06 billion, indicating changes of -0.41% and +3.26%, respectively, from the former year.
Any recent changes to analyst estimates for American Tower should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, American Tower possesses a Zacks Rank of #3 (Hold).
In terms of valuation, American Tower is currently trading at a Forward P/E ratio of 17.05. This denotes a premium relative to the industry's average Forward P/E of 10.35.
Investors should also note that AMT has a PEG ratio of 1.21 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the REIT and Equity Trust - Other industry held an average PEG ratio of 2.21.
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 evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.