Analysts at Macquarie boosted their target price on shares of American Tower Corp (NYSE:AMT) from $88.00 to $91.00 in a research report issued to clients and investors on Thursday, Stock Ratings News reports. Macquarie’s target price indicates a potential upside of 15.04% from the stock’s previous close.
Shares of American Tower Corp (NYSE:AMT) traded up 1.19% on Thursday, hitting $79.10. The stock had a trading volume of 2,065,370 shares. American Tower Corp has a one year low of $67.89 and a one year high of $85.26. The stock has a 50-day moving average of $76.88 and a 200-day moving average of $75.58. The company has a market cap of $31.216 billion and a price-to-earnings ratio of 53.18.
American Tower Corp (NYSE:AMT) last released its earnings data on Wednesday, October 30th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.53 by $0.08. The company had revenue of $807.90 million for the quarter, compared to the consensus estimate of $822.04 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts predict that American Tower Corp will post $1.64 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. upgraded shares of American Tower Corp from a “neutral” rating to a “buy” rating in a research note to investors on Monday. They now have a $89.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of American Tower Corp from $90.00 to $95.00 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of American Tower Corp from $96.00 to $102.00 in a research note to investors on Friday, November 1st. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. American Tower Corp presently has an average rating of “Buy” and a consensus price target of $91.16.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures.
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