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American Tower (AMT) Dips More Than Broader Markets: What You Should Know
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American Tower (AMT - Free Report) closed at $215.15 in the latest trading session, marking a -0.97% move from the prior day. This change lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Heading into today, shares of the wireless communications infrastructure company had lost 6.68% over the past month, lagging the Finance sector's gain of 2.23% and the S&P 500's gain of 3.6% in that time.
American Tower will be looking to display strength as it nears its next earnings release, which is expected to be February 23, 2023. In that report, analysts expect American Tower to post earnings of $2.24 per share. This would mark year-over-year growth of 2.75%. Meanwhile, our latest consensus estimate is calling for revenue of $2.68 billion, up 9.56% from the prior-year quarter.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.31% lower. American Tower is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that American Tower has a Forward P/E ratio of 21.73 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.35.
We can also see that AMT currently has a PEG ratio of 1.91. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.15 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Dips More Than Broader Markets: What You Should Know
American Tower (AMT - Free Report) closed at $215.15 in the latest trading session, marking a -0.97% move from the prior day. This change lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Heading into today, shares of the wireless communications infrastructure company had lost 6.68% over the past month, lagging the Finance sector's gain of 2.23% and the S&P 500's gain of 3.6% in that time.
American Tower will be looking to display strength as it nears its next earnings release, which is expected to be February 23, 2023. In that report, analysts expect American Tower to post earnings of $2.24 per share. This would mark year-over-year growth of 2.75%. Meanwhile, our latest consensus estimate is calling for revenue of $2.68 billion, up 9.56% from the prior-year quarter.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.31% lower. American Tower is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that American Tower has a Forward P/E ratio of 21.73 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.35.
We can also see that AMT currently has a PEG ratio of 1.91. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.15 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.