American Tower (NYSE:AMT - Get Free Report) is set to post its quarterly earnings results 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.Investors that are interested in participating in the company's conference call can do so using this link.
American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $2.46 earnings per share. On average, analysts expect American Tower to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.
Shares of American Tower stock opened at $221.49 on Tuesday. American Tower has a 52-week low of $157.25 and a 52-week high of $243.56. The firm has a market capitalization of $103.43 billion, a PE ratio of 50.11, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. 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 company's fifty day moving average price is $228.54 and its two-hundred day moving average price is $206.83.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.93%. American Tower's payout ratio is 146.61%.
In other news, CEO Steven O. Vondran sold 21,537 shares of the business's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares of the company's stock, valued at approximately $14,223,890. The trade was 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 other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares of the company's stock, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares of the company's stock, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,723 shares of company stock worth $7,795,397. Company insiders own 0.18% of the company's stock.
Several equities research analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Barclays increased their target price on American Tower from $223.00 to $255.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Finally, StockNews.com raised shares of American Tower from a "hold" rating to a "buy" rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $237.92.
Check Out Our Latest Analysis on AMT
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.
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