Q2 2019 Earnings Forecast for American Tower Corp (AMT) Issued By Oppenheimer
American Tower Corp (NYSE:AMT) – Research analysts at Oppenheimer upped their Q2 2019 EPS estimates for shares of American Tower in a note issued to investors on Monday, May 6th. Oppenheimer analyst T. Horan now anticipates that the real estate investment trust will post earnings of $1.87 per share for the quarter, up from their prior forecast of $1.85. Oppenheimer has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for American Tower’s Q3 2019 earnings at $1.89 EPS and Q4 2019 earnings at $1.94 EPS.
A number of other research analysts also recently issued reports on AMT. KeyCorp boosted their price objective on shares of American Tower from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Wells Fargo & Co boosted their price objective on shares of American Tower from $176.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, February 28th. Macquarie reissued a “buy” rating and set a $210.00 price objective on shares of American Tower in a research report on Thursday, February 28th. CIBC reissued a “market perform” rating on shares of American Tower in a research report on Thursday, February 28th. Finally, Citigroup boosted their price objective on shares of American Tower from $176.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $179.94.
American Tower (NYSE:AMT) last issued its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. American Tower had a net margin of 17.95% and a return on equity of 22.53%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS.
Several large investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in American Tower in the 4th quarter worth about $25,000. Canton Hathaway LLC bought a new position in American Tower in the 1st quarter worth about $26,000. Lavaca Capital LLC bought a new position in American Tower in the 4th quarter worth about $27,000. Acima Private Wealth LLC bought a new position in American Tower in the 4th quarter worth about $27,000. Finally, WESPAC Advisors SoCal LLC bought a new position in American Tower in the 4th quarter worth about $27,000. 94.88% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman James D. Taiclet, Jr. sold 57,439 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $194.31, for a total value of $11,160,972.09. Following the sale, the chairman now directly owns 255,415 shares of the company’s stock, valued at approximately $49,629,688.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amit Sharma sold 32,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $194.35, for a total transaction of $6,316,375.00. Following the completion of the sale, the executive vice president now directly owns 177,193 shares in the company, valued at $34,437,459.55. The disclosure for this sale can be found here. Insiders sold a total of 156,915 shares of company stock worth $30,325,109 over the last ninety days. Insiders own 0.75% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, April 11th were given a $0.90 dividend. The ex-dividend date was Wednesday, April 10th. This is an increase from American Tower’s previous quarterly dividend of $0.84. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.90%. American Tower’s dividend payout ratio is currently 45.06%.
American Tower Company Profile
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 171,000 communications sites.
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