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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 the most recent trading day at $219.30, moving +0.37% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Prior to today's trading, shares of the wireless communications infrastructure company had gained 2.18% over the past month. This has outpaced the Finance sector's loss of 1.02% and the S&P 500's loss of 1.03% in that time.
Investors will be hoping for strength from American Tower as it approaches its next earnings release. On that day, American Tower is projected to report earnings of $2.23 per share, which would represent year-over-year growth of 2.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.67 billion, up 9.09% from the year-ago period.
It is also important to note the recent changes to analyst estimates for American Tower. These revisions help to show the ever-changing nature of near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.52% lower. American Tower is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note American Tower's current valuation metrics, including its Forward P/E ratio of 21.8. For comparison, its industry has an average Forward P/E of 11.63, which means American Tower is trading at a premium to the group.
Meanwhile, AMT's PEG ratio is currently 1.95. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 1.97 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% 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.
To follow AMT in the coming trading sessions, be sure to utilize Zacks.com.
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American Tower (AMT) Gains As Market Dips: What You Should Know
American Tower (AMT - Free Report) closed the most recent trading day at $219.30, moving +0.37% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Prior to today's trading, shares of the wireless communications infrastructure company had gained 2.18% over the past month. This has outpaced the Finance sector's loss of 1.02% and the S&P 500's loss of 1.03% in that time.
Investors will be hoping for strength from American Tower as it approaches its next earnings release. On that day, American Tower is projected to report earnings of $2.23 per share, which would represent year-over-year growth of 2.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.67 billion, up 9.09% from the year-ago period.
It is also important to note the recent changes to analyst estimates for American Tower. These revisions help to show the ever-changing nature of near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.52% lower. American Tower is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note American Tower's current valuation metrics, including its Forward P/E ratio of 21.8. For comparison, its industry has an average Forward P/E of 11.63, which means American Tower is trading at a premium to the group.
Meanwhile, AMT's PEG ratio is currently 1.95. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 1.97 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% 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.
To follow AMT in the coming trading sessions, be sure to utilize Zacks.com.