Wall Street brokerages expect that American Tower Corp (NYSE:AMT) will report sales of $1.79 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for American Tower’s earnings, with the lowest sales estimate coming in at $1.71 billion and the highest estimate coming in at $1.85 billion. American Tower posted sales of $1.74 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The firm is scheduled to report its next quarterly earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that American Tower will report full year sales of $7.35 billion for the current year, with estimates ranging from $7.22 billion to $7.42 billion. For the next year, analysts forecast that the firm will report sales of $7.80 billion, with estimates ranging from $7.52 billion to $7.94 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow American Tower.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($1.63). The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.03 billion. American Tower had a return on equity of 19.86% and a net margin of 16.62%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 earnings per share.

Several research analysts have recently weighed in on the company. KeyCorp upped their price objective on American Tower from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 12th. Moffett Nathanson cut American Tower from a “buy” rating to a “neutral” rating and set a $164.00 price objective for the company. in a research report on Monday, December 3rd. Edward Jones cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Macquarie reaffirmed a “buy” rating and set a $210.00 price objective on shares of American Tower in a research report on Thursday, February 28th. Finally, CIBC reaffirmed a “market perform” rating on shares of American Tower in a research report on Thursday, February 28th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $176.88.

Shares of AMT stock traded up $1.63 on Wednesday, hitting $191.54. 1,537,788 shares of the stock were exchanged, compared to its average volume of 1,806,606. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $84.49 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.79 and a beta of 0.67. American Tower has a fifty-two week low of $133.53 and a fifty-two week high of $192.16.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 11th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, April 10th. This is a positive change from American Tower’s previous quarterly dividend of $0.84. American Tower’s dividend payout ratio is presently 42.05%.

In related news, Director Samme L. Thompson sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $157.11, for a total transaction of $314,220.00. Following the sale, the director now owns 20,625 shares in the company, valued at $3,240,393.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Olivier Puech sold 1,169 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $188.18, for a total value of $219,982.42. Following the sale, the executive vice president now owns 19,147 shares in the company, valued at approximately $3,603,082.46. The disclosure for this sale can be found here. Insiders have sold 89,253 shares of company stock worth $15,216,065 in the last quarter. 0.87% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new stake in American Tower in the fourth quarter valued at approximately $25,000. Lavaca Capital LLC bought a new stake in American Tower in the fourth quarter valued at approximately $27,000. Acima Private Wealth LLC bought a new stake in American Tower in the fourth quarter valued at approximately $27,000. WESPAC Advisors SoCal LLC bought a new stake in American Tower in the fourth quarter valued at approximately $27,000. Finally, Citizens Financial Group Inc RI raised its stake in American Tower by 62.0% in the fourth quarter. Citizens Financial Group Inc RI now owns 196 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 93.94% 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 over 170,000 communications sites.

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

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