American Tower (AMT) Scheduled to Post Earnings on Tuesday

American Tower (NYSE:AMT) is set to release its earnings data before the market opens on Tuesday, October 29th. Analysts expect American Tower to post earnings of $2.50 per share for the quarter. American Tower has set its FY 2024 guidance at 10.480-10.720 EPS and its FY24 guidance at $10.48-$10.72 EPS.Parties interested in registering for the company’s conference call can do so using this link.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the business posted $2.46 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, analysts expect American Tower to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

American Tower Trading Down 2.1 %

NYSE AMT opened at $221.49 on Tuesday. American Tower has a one year low of $157.25 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day simple moving average of $228.54 and a 200 day simple moving average of $206.83. The stock has a market capitalization of $103.43 billion, a P/E ratio of 50.11, a P/E/G ratio of 1.03 and a beta of 0.83.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.93%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Analysts Set New Price Targets

AMT has been the topic of several recent research reports. Scotiabank increased their price target on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Barclays boosted their price target on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. BMO Capital Markets raised their price objective on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Finally, StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Insiders Place Their Bets

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,723 shares of company stock valued at $7,795,397. Corporate insiders own 0.18% of the company’s stock.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.