American Tower (AMT) Set to Announce Earnings on Tuesday

American Tower (NYSE:AMT) is scheduled to post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect American Tower to post earnings of $2.45 per share for the quarter. American Tower has set its FY 2024 guidance at 10.210-10.450 EPS and its FY24 guidance at $10.21-10.45 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the business earned $2.34 EPS. American Tower’s revenue for the quarter was up 3.0% compared to the same quarter last year. 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 Price Performance

AMT stock opened at $172.31 on Tuesday. American Tower has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a fifty day simple moving average of $191.52 and a two-hundred day simple moving average of $194.09. The firm has a market capitalization of $80.36 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. BMO Capital Markets reduced their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Mizuho initiated coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Finally, Barclays raised their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $217.36.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.