In the latest trading session, American Tower (AMT - Free Report) closed at $215.18, marking a -1.08% move from the previous day. This change lagged the S&P 500's 0.13% loss on the day. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq lost 0.24%.
Heading into today, shares of the wireless communications infrastructure company had gained 7.2% over the past month, outpacing the Finance sector's gain of 3.25% and the S&P 500's gain of 4.13% in that time.
Investors will be hoping for strength from AMT as it approaches its next earnings release. In that report, analysts expect AMT to post earnings of $1.93 per share. This would mark year-over-year growth of 1.58%. Meanwhile, our latest consensus estimate is calling for revenue of $1.84 billion, up 3.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.78 per share and revenue of $7.36 billion, which would represent changes of -2.63% and -1.06%, respectively, from the prior year.
Any recent changes to analyst estimates for AMT should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.2% higher. AMT is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, AMT currently has a Forward P/E ratio of 27.96. This represents a premium compared to its industry's average Forward P/E of 15.69.
Meanwhile, AMT's PEG ratio is currently 1.72. 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. AMT's industry had an average PEG ratio of 3.11 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.