American Tower (AMT) Set to Announce Quarterly Earnings on Tuesday

American Tower (NYSE:AMT) is scheduled to be announcing its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $2.45 per share for the quarter. American Tower has set its FY 2024 guidance at 10.210-10.450 EPS and its FY24 guidance at $10.21-10.45 EPS.Parties interested in registering for the company’s conference call can do so using this link.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the business earned $2.34 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts expect American Tower to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

American Tower Stock Down 0.7 %

Shares of NYSE AMT opened at $171.69 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower has a 52 week low of $154.58 and a 52 week high of $219.10. The firm has a 50-day moving average price of $190.29 and a 200 day moving average price of $194.42. The stock has a market capitalization of $80.07 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is 203.77%.

Insider Activity

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several recent analyst reports. Barclays raised their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. BMO Capital Markets cut their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. cut their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Morgan Stanley lifted their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.36.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.