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American Tower (AMT) Dips More Than Broader Market: What You Should Know
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American Tower (AMT - Free Report) closed the latest trading day at $171, indicating a -0.59% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Heading into today, shares of the wireless communications infrastructure company had lost 11.62% over the past month, lagging the Finance sector's loss of 6.38% and the S&P 500's loss of 1.66% in that time.
Analysts and investors alike will be keeping a close eye on the performance of American Tower in its upcoming earnings disclosure. The company's earnings report is set to go public on April 30, 2024. It is anticipated that the company will report an EPS of $2.55, marking a 0.39% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.8 billion, reflecting a 1.32% rise from the equivalent quarter last year.
AMT's full-year Zacks Consensus Estimates are calling for earnings of $10.35 per share and revenue of $11.22 billion. These results would represent year-over-year changes of +4.86% and +0.69%, 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. Right now, American Tower possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, American Tower is currently exchanging hands at a Forward P/E ratio of 16.62. This signifies a premium in comparison to the average Forward P/E of 10.67 for its industry.
It's also important to note that AMT currently trades at a PEG ratio of 1.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.13 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
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American Tower (AMT) Dips More Than Broader Market: What You Should Know
American Tower (AMT - Free Report) closed the latest trading day at $171, indicating a -0.59% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Heading into today, shares of the wireless communications infrastructure company had lost 11.62% over the past month, lagging the Finance sector's loss of 6.38% and the S&P 500's loss of 1.66% in that time.
Analysts and investors alike will be keeping a close eye on the performance of American Tower in its upcoming earnings disclosure. The company's earnings report is set to go public on April 30, 2024. It is anticipated that the company will report an EPS of $2.55, marking a 0.39% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.8 billion, reflecting a 1.32% rise from the equivalent quarter last year.
AMT's full-year Zacks Consensus Estimates are calling for earnings of $10.35 per share and revenue of $11.22 billion. These results would represent year-over-year changes of +4.86% and +0.69%, 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. Right now, American Tower possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, American Tower is currently exchanging hands at a Forward P/E ratio of 16.62. This signifies a premium in comparison to the average Forward P/E of 10.67 for its industry.
It's also important to note that AMT currently trades at a PEG ratio of 1.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.13 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.