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American Tower (AMT) Gains As Market Dips: What You Should Know
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American Tower (AMT - Free Report) closed at $259.60 in the latest trading session, marking a +1.64% move from the prior day. This move outpaced the S&P 500's daily loss of 0.93%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq lost 0.17%.
Coming into today, shares of the wireless communications infrastructure company had lost 1.13% in the past month. In that same time, the Finance sector gained 3.57%, while the S&P 500 gained 6.31%.
Wall Street will be looking for positivity from American Tower as it approaches its next earnings report date. This is expected to be July 28, 2022. On that day, American Tower is projected to report earnings of $2.43 per share, which would represent year-over-year growth of 0.41%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.65 billion, up 15.24% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.93 per share and revenue of $10.67 billion, which would represent changes of +2.9% and +14.02%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for American Tower. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.36% higher. American Tower currently has a Zacks Rank of #3 (Hold).
Investors should also note American Tower's current valuation metrics, including its Forward P/E ratio of 25.72. This valuation marks a premium compared to its industry's average Forward P/E of 12.97.
It is also worth noting that AMT currently has a PEG ratio of 2.4. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 2.43 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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American Tower (AMT) Gains As Market Dips: What You Should Know
American Tower (AMT - Free Report) closed at $259.60 in the latest trading session, marking a +1.64% move from the prior day. This move outpaced the S&P 500's daily loss of 0.93%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq lost 0.17%.
Coming into today, shares of the wireless communications infrastructure company had lost 1.13% in the past month. In that same time, the Finance sector gained 3.57%, while the S&P 500 gained 6.31%.
Wall Street will be looking for positivity from American Tower as it approaches its next earnings report date. This is expected to be July 28, 2022. On that day, American Tower is projected to report earnings of $2.43 per share, which would represent year-over-year growth of 0.41%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.65 billion, up 15.24% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.93 per share and revenue of $10.67 billion, which would represent changes of +2.9% and +14.02%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for American Tower. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.36% higher. American Tower currently has a Zacks Rank of #3 (Hold).
Investors should also note American Tower's current valuation metrics, including its Forward P/E ratio of 25.72. This valuation marks a premium compared to its industry's average Forward P/E of 12.97.
It is also worth noting that AMT currently has a PEG ratio of 2.4. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 2.43 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.