American Tower (NYSE:AMT) is scheduled to release its earnings data before the market opens on Thursday, July 29th. Analysts expect American Tower to post earnings of $2.25 per share for the quarter. Persons that are interested in registering for the company's earnings conference call can do so using this link.
American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, April 28th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing the Zacks' consensus estimate of $2.25 by ($0.80). American Tower had a return on equity of 44.78% and a net margin of 23.40%. On average, analysts expect American Tower to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.
Shares of AMT stock opened at $280.26 on Thursday. American Tower has a fifty-two week low of $197.50 and a fifty-two week high of $284.65. The stock has a market capitalization of $127.18 billion, a price-to-earnings ratio of 65.03, a price-to-earnings-growth ratio of 2.17 and a beta of 0.24. The company has a debt-to-equity ratio of 6.45, a current ratio of 1.13 and a quick ratio of 1.13. The business's 50-day simple moving average is $266.16.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 9th. Stockholders of record on Friday, June 18th were paid a dividend of $1.27 per share. This is a positive change from American Tower's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Thursday, June 17th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 1.81%. American Tower's payout ratio is presently 60.19%.
In other news, Director Robert D. Hormats sold 100 shares of the company's stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $272.87, for a total transaction of $27,287.00. Following the completion of the transaction, the director now directly owns 6,640 shares of the company's stock, valued at approximately $1,811,856.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amit Sharma sold 40,276 shares of the company's stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $248.48, for a total value of $10,007,780.48. Following the transaction, the chief executive officer now directly owns 259,622 shares of the company's stock, valued at $64,510,874.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,612 shares of company stock valued at $17,312,747. Corporate insiders own 0.68% of the company's stock.
A number of brokerages recently commented on AMT. Credit Suisse Group upped their target price on American Tower from $296.00 to $297.00 and gave the company an "outperform" rating in a research report on Friday, April 30th. Morgan Stanley upped their target price on American Tower from $248.00 to $262.00 and gave the company an "equal weight" rating in a research report on Monday, April 19th. Citigroup lowered American Tower from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 13th. Wells Fargo & Company upped their target price on American Tower from $280.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, July 16th. Finally, Raymond James upped their target price on American Tower from $244.00 to $261.00 and gave the company an "outperform" rating in a research report on Tuesday, May 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of "Buy" and a consensus price target of $283.73.
About American Tower
American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.
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