American Tower (AMT) Set to Announce Earnings on Tuesday

American Tower (NYSE:AMT) is scheduled to announce its earnings results before the market opens on Tuesday, October 29th. Analysts expect the company to announce 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.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

American Tower (NYSE:AMT) last issued its earnings results 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 company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the company earned $2.46 EPS. American Tower’s quarterly 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 Stock Down 1.4 %

Shares of NYSE AMT opened at $222.80 on Friday. The firm has a market cap of $104.04 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 1.08 and a beta of 0.83. American Tower has a 1 year low of $162.55 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $228.80 and its 200-day simple moving average is $207.66.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is currently 146.61%.

Insider Buying and Selling at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. 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 is available at this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. This trade 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 valued at $7,795,397. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Mizuho increased their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. boosted their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Royal Bank of Canada raised their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Scotiabank boosted their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $237.92.

About American Tower

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.