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American Tower (AMT) Ascends While Market Falls: Some Facts to Note
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American Tower (AMT - Free Report) closed at $213.12 in the latest trading session, marking a +1.41% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.39%. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
The the stock of wireless communications infrastructure company has risen by 9.01% in the past month, leading the Finance sector's loss of 0.08% and the S&P 500's gain of 4.43%.
The upcoming earnings release of American Tower will be of great interest to investors. The company's earnings report is expected on July 30, 2024. It is anticipated that the company will report an EPS of $2.53, marking a 2.85% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.81 billion, up 1.24% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.45 per share and revenue of $11.17 billion. These totals would mark changes of +5.88% and +0.25%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for American Tower. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.1% rise in the Zacks Consensus EPS estimate. American Tower is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, American Tower currently has a Forward P/E ratio of 20.11. This indicates a premium in contrast to its industry's Forward P/E of 12.71.
We can additionally observe that AMT currently boasts a PEG ratio of 1.42. 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. As of the close of trade yesterday, the REIT and Equity Trust - Other industry held an average PEG ratio of 2.31.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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American Tower (AMT) Ascends While Market Falls: Some Facts to Note
American Tower (AMT - Free Report) closed at $213.12 in the latest trading session, marking a +1.41% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.39%. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
The the stock of wireless communications infrastructure company has risen by 9.01% in the past month, leading the Finance sector's loss of 0.08% and the S&P 500's gain of 4.43%.
The upcoming earnings release of American Tower will be of great interest to investors. The company's earnings report is expected on July 30, 2024. It is anticipated that the company will report an EPS of $2.53, marking a 2.85% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.81 billion, up 1.24% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.45 per share and revenue of $11.17 billion. These totals would mark changes of +5.88% and +0.25%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for American Tower. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.1% rise in the Zacks Consensus EPS estimate. American Tower is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, American Tower currently has a Forward P/E ratio of 20.11. This indicates a premium in contrast to its industry's Forward P/E of 12.71.
We can additionally observe that AMT currently boasts a PEG ratio of 1.42. 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. As of the close of trade yesterday, the REIT and Equity Trust - Other industry held an average PEG ratio of 2.31.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.