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In the latest trading session, American Tower (AMT) closed at $214.28, marking a -0.55% change from previous day’s price. This stock lagged the S&P 500 with an average daily gain of 0.18%. Elsewhere, the Dow rose 0.07% and the tech-heavy Nasdaq rose 0.1%.
Shares of the wireless communications infrastructure company have gained 2.25% over the past month, lagging the Financials sector’s rise of 4.37% and the S&P 500’s rise of 2.75%.
Market participants will closely monitor American Tower’s financial results as they are announced. The company’s EPS is expected to be $2.18, a decrease of 6.84% compared to the same period last year. Meanwhile, our latest consensus estimate is projecting revenue of $2.73 billion, up 0.78% from the prior-year period.
Investors may also notice recent changes to analyst estimates for American Tower. These latest adjustments often reflect changes in short-term business patterns. Therefore, a positive estimate change means the analysts are optimistic about the company’s business and profitability.
Our research reveals that these estimate changes are directly correlated to near-term stock price performance. To benefit from this, we have created the Zacks Rank, a quantitative model that includes these estimate changes and presents an actionable rating system.
The Zacks Rank system, ranging 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. is produced. The Zacks Consensus EPS estimate has moved 0.01% higher over the past month. American Tower currently sports a Zacks Rank #3 (Hold).
In terms of valuation, American Tower is currently trading at a Forward P/E of 21.11. This represents a premium compared to its industry’s average Forward P/E of 11.17.
Investors should also note that AMT’s PEG ratio is currently 1.57. The PEG ratio is similar to the widely used P/E ratio, but this metric also takes into account a company’s expected earnings growth rate. As of yesterday’s close, the average PEG ratio for the REITs & Equity Trusts – Other industry was 2.37.
REITs and Equity Trusts – Other industries are part of the financial sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by determining the average Zacks Rank of the individual stocks that make up the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
To follow AMT in upcoming trading sessions, be sure to visit Zacks.com.
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