American Tower (AMT) Set to Announce Quarterly Earnings on Friday

American Tower (NYSE:AMT) will issue its quarterly earnings data before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of $1.80 per share for the quarter. American Tower has set its FY 2019 guidance at $8.18-8.18 EPS.

American Tower (NYSE:AMT) last posted its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.25 by ($1.63). The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.03 billion. American Tower had a return on equity of 19.86% and a net margin of 16.62%. American Tower’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, analysts expect American Tower to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

American Tower stock opened at $192.29 on Friday. The stock has a market cap of $85.24 billion, a PE ratio of 24.07, a P/E/G ratio of 1.63 and a beta of 0.68. American Tower has a 1 year low of $133.53 and a 1 year high of $198.19. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.68 and a quick ratio of 0.68.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, April 11th will be given a dividend of $0.90 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.84. This represents a $3.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, April 10th. American Tower’s payout ratio is presently 45.06%.

Several equities analysts recently issued reports on the company. Wells Fargo & Co lowered American Tower from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $190.00 to $196.00 in a research report on Monday, April 15th. They noted that the move was a valuation call. Bank of America boosted their price objective on American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Edward Jones lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Morgan Stanley boosted their price objective on American Tower from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Monday, March 11th. Finally, Royal Bank of Canada boosted their price objective on American Tower from $173.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $177.25.

In other American Tower news, Director Gustavo Lara sold 3,050 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $172.71, for a total value of $526,765.50. Following the sale, the director now owns 9,940 shares in the company, valued at approximately $1,716,737.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James D. Taiclet, Jr. sold 8,580 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $190.73, for a total value of $1,636,463.40. Following the completion of the sale, the chief executive officer now owns 197,976 shares in the company, valued at approximately $37,759,962.48. The disclosure for this sale can be found here. Insiders sold a total of 102,526 shares of company stock worth $19,690,902 in the last 90 days. Company insiders own 0.87% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was posted by Stock Observer and is the property of of Stock Observer. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://www.thestockobserver.com/2019/04/26/american-tower-amt-set-to-announce-quarterly-earnings-on-friday.html.

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 170,000 communications sites.

See Also: Is it better to buy a fund with a higher or lower NAV?

Earnings History for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.