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American Tower (AMT) Stock Moves -0.06%: What You Should Know
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In the latest market close, American Tower (AMT - Free Report) reached $209.39, with a -0.06% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 2.32%. On the other hand, the Dow registered a loss of 1.25%, and the technology-centric Nasdaq decreased by 3.64%.
Shares of the wireless communications infrastructure company have appreciated by 8.74% over the course of the past month, outperforming the Finance sector's loss of 1.37% and the S&P 500's gain of 1.79%.
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. The company's upcoming EPS is projected at $2.53, signifying a 2.85% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.81 billion, showing a 1.24% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.45 per share and a revenue of $11.17 billion, representing changes of +5.88% and +0.25%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for American Tower. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.1% higher. American Tower is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, American Tower currently has a Forward P/E ratio of 20.05. Its industry sports an average Forward P/E of 12.86, so one might conclude that American Tower is trading at a premium comparatively.
It is also worth noting that AMT currently has a PEG ratio of 1.41. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. AMT's industry had an average PEG ratio of 2.35 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 159, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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) Stock Moves -0.06%: What You Should Know
In the latest market close, American Tower (AMT - Free Report) reached $209.39, with a -0.06% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 2.32%. On the other hand, the Dow registered a loss of 1.25%, and the technology-centric Nasdaq decreased by 3.64%.
Shares of the wireless communications infrastructure company have appreciated by 8.74% over the course of the past month, outperforming the Finance sector's loss of 1.37% and the S&P 500's gain of 1.79%.
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. The company's upcoming EPS is projected at $2.53, signifying a 2.85% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.81 billion, showing a 1.24% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.45 per share and a revenue of $11.17 billion, representing changes of +5.88% and +0.25%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for American Tower. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.1% higher. American Tower is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, American Tower currently has a Forward P/E ratio of 20.05. Its industry sports an average Forward P/E of 12.86, so one might conclude that American Tower is trading at a premium comparatively.
It is also worth noting that AMT currently has a PEG ratio of 1.41. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. AMT's industry had an average PEG ratio of 2.35 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 159, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.