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Why the Market Dipped But American Tower (AMT) Gained Today
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American Tower (AMT - Free Report) closed at $236.16 in the latest trading session, marking a +1.08% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.73%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 2.55%.
Heading into today, shares of the wireless communications infrastructure company had gained 4.49% over the past month, lagging the Finance sector's gain of 8.45% and the S&P 500's gain of 6.22% in that time.
The investment community will be closely monitoring the performance of American Tower in its forthcoming earnings report. The company is predicted to post an EPS of $2.59, indicating a 0.39% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.85 billion, indicating a 1.09% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.52 per share and a revenue of $11.21 billion, representing changes of +6.59% and +0.57%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for American Tower. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. Currently, American Tower is carrying a Zacks Rank of #3 (Hold).
Investors should also note American Tower's current valuation metrics, including its Forward P/E ratio of 22.21. This expresses a premium compared to the average Forward P/E of 12.54 of its industry.
It's also important to note that AMT currently trades at a PEG ratio of 1.5. 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 was holding an average PEG ratio of 2.38 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 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Why the Market Dipped But American Tower (AMT) Gained Today
American Tower (AMT - Free Report) closed at $236.16 in the latest trading session, marking a +1.08% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.73%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 2.55%.
Heading into today, shares of the wireless communications infrastructure company had gained 4.49% over the past month, lagging the Finance sector's gain of 8.45% and the S&P 500's gain of 6.22% in that time.
The investment community will be closely monitoring the performance of American Tower in its forthcoming earnings report. The company is predicted to post an EPS of $2.59, indicating a 0.39% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.85 billion, indicating a 1.09% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.52 per share and a revenue of $11.21 billion, representing changes of +6.59% and +0.57%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for American Tower. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. Currently, American Tower is carrying a Zacks Rank of #3 (Hold).
Investors should also note American Tower's current valuation metrics, including its Forward P/E ratio of 22.21. This expresses a premium compared to the average Forward P/E of 12.54 of its industry.
It's also important to note that AMT currently trades at a PEG ratio of 1.5. 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 was holding an average PEG ratio of 2.38 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 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.