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American Tower (AMT) Increases Despite Market Slip: Here's What You Need to Know
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The latest trading session saw American Tower (AMT - Free Report) ending at $160.09, denoting a +0.41% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 1.26%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq depreciated by 1.54%.
Shares of the wireless communications infrastructure company have depreciated by 5.84% over the course of the past month, outperforming the Finance sector's loss of 5.97% and lagging the S&P 500's loss of 3.67%.
Investors will be eagerly watching for the performance of American Tower in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 26, 2023. The company's earnings per share (EPS) are projected to be $2.35, reflecting a 0.42% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.76 billion, indicating a 3.29% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.72 per share and revenue of $11.06 billion. These totals would mark changes of -0.41% and +3.26%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for American Tower. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. At present, American Tower boasts a Zacks Rank of #3 (Hold).
In terms of valuation, American Tower is currently trading at a Forward P/E ratio of 16.41. This valuation marks a premium compared to its industry's average Forward P/E of 9.98.
Also, we should mention that AMT has a PEG ratio of 1.16. 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. AMT's industry had an average PEG ratio of 2.03 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 164, putting it in the bottom 35% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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American Tower (AMT) Increases Despite Market Slip: Here's What You Need to Know
The latest trading session saw American Tower (AMT - Free Report) ending at $160.09, denoting a +0.41% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 1.26%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq depreciated by 1.54%.
Shares of the wireless communications infrastructure company have depreciated by 5.84% over the course of the past month, outperforming the Finance sector's loss of 5.97% and lagging the S&P 500's loss of 3.67%.
Investors will be eagerly watching for the performance of American Tower in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 26, 2023. The company's earnings per share (EPS) are projected to be $2.35, reflecting a 0.42% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.76 billion, indicating a 3.29% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.72 per share and revenue of $11.06 billion. These totals would mark changes of -0.41% and +3.26%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for American Tower. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. At present, American Tower boasts a Zacks Rank of #3 (Hold).
In terms of valuation, American Tower is currently trading at a Forward P/E ratio of 16.41. This valuation marks a premium compared to its industry's average Forward P/E of 9.98.
Also, we should mention that AMT has a PEG ratio of 1.16. 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. AMT's industry had an average PEG ratio of 2.03 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 164, putting it in the bottom 35% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.