American Tower (AMT) closed the most recent trading day at $162.32, moving +1.65% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Heading into today, shares of the wireless communications infrastructure company had lost 12.39% over the past month, lagging the Finance sector's loss of 1.79% and the S&P 500's loss of 2.84% in that time.
Wall Street will be looking for positivity from American Tower as it approaches its next earnings report date. On that day, American Tower is projected to report earnings of $2.18 per share, which would represent a year-over-year decline of 7.63%. Our most recent consensus estimate is calling for quarterly revenue of $2.76 billion, up 3.15% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.71 per share and revenue of $11.05 billion, which would represent changes of -0.51% and +3.18%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for American Tower. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. American Tower is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note American Tower's current valuation metrics, including its Forward P/E ratio of 16.44. For comparison, its industry has an average Forward P/E of 10.16, which means American Tower is trading at a premium to the group.
Also, we should mention that AMT has a PEG ratio of 1.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.31 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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