Equities research analysts predict that American Tower Corp (NYSE:AMT) will post sales of $1.98 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for American Tower’s earnings, with the lowest sales estimate coming in at $1.77 billion and the highest estimate coming in at $2.06 billion. American Tower reported sales of $1.70 billion in the same quarter last year, which indicates a positive year over year growth rate of 16.5%. The business is expected to announce its next earnings report on Tuesday, February 26th.

On average, analysts expect that American Tower will report full year sales of $7.33 billion for the current year, with estimates ranging from $7.11 billion to $7.37 billion. For the next fiscal year, analysts anticipate that the business will post sales of $7.34 billion, with estimates ranging from $7.17 billion to $7.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow American Tower.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis.

A number of brokerages recently commented on AMT. Zacks Investment Research upgraded American Tower from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Citigroup lowered American Tower from a “buy” rating to a “neutral” rating and upped their target price for the company from $161.00 to $176.00 in a research report on Wednesday, October 31st. Cowen reiterated a “buy” rating and issued a $161.00 target price on shares of American Tower in a research report on Wednesday, August 1st. Deutsche Bank upped their target price on American Tower from $155.00 to $169.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, Guggenheim reiterated a “hold” rating and issued a $160.00 target price on shares of American Tower in a research report on Tuesday, August 7th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $165.40.

Shares of AMT stock traded down $1.08 during trading hours on Friday, reaching $159.56. 33,020 shares of the company’s stock were exchanged, compared to its average volume of 2,646,703. The firm has a market capitalization of $73.22 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.60 and a beta of 0.59. American Tower has a 1 year low of $130.37 and a 1 year high of $167.09. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.72 and a current ratio of 0.72.

In other American Tower news, insider Steven C. Marshall sold 163,166 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $156.86, for a total value of $25,594,218.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Edmund Disanto sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $146.78, for a total value of $1,908,140.00. Following the completion of the sale, the executive vice president now owns 160,021 shares in the company, valued at approximately $23,487,882.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,528 shares of company stock worth $36,954,956. Insiders own 0.87% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Mount Yale Investment Advisors LLC raised its stake in shares of American Tower by 354.4% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 560 shares during the period. TLP Group LLC acquired a new position in shares of American Tower during the 3rd quarter worth approximately $113,000. Point72 Hong Kong Ltd acquired a new position in shares of American Tower during the 3rd quarter worth approximately $142,000. Kaizen Advisory LLC raised its stake in shares of American Tower by 140.6% during the 2nd quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 589 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in shares of American Tower by 75.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 441 shares during the period. Institutional investors and hedge funds own 92.94% of the company’s stock.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 170,000 communications sites.

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Earnings History and Estimates for American Tower (NYSE:AMT)

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