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American Tower (AMT) Increases Yet Falls Behind Market: What Investors Need to Know

The most recent trading session ended with American Tower (AMT) standing at $174.18, reflecting a +1.09% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.2%. Elsewhere, the Dow saw an upswing of 0.69%, while the tech-heavy Nasdaq appreciated by 1.59%.

Prior to today's trading, shares of the wireless communications infrastructure company had lost 11.89% over the past month. This has lagged the Finance sector's loss of 5.68% and the S&P 500's loss of 4.16% in that time.

Investors will be eagerly watching for the performance of American Tower in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. In that report, analysts expect American Tower to post earnings of $2.55 per share. This would mark year-over-year growth of 0.39%. Meanwhile, our latest consensus estimate is calling for revenue of $2.8 billion, up 1.32% from the prior-year quarter.

AMT's full-year Zacks Consensus Estimates are calling for earnings of $10.35 per share and revenue of $11.18 billion. These results would represent year-over-year changes of +4.86% and +0.36%, respectively.

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Investors should also take note of any recent adjustments to analyst estimates for American Tower. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.35% higher within the past month. American Tower presently features a Zacks Rank of #3 (Hold).

Looking at valuation, American Tower is presently trading at a Forward P/E ratio of 16.64. This denotes a premium relative to the industry's average Forward P/E of 10.98.

Meanwhile, AMT's PEG ratio is currently 1.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the REIT and Equity Trust - Other industry was having an average PEG ratio of 2.08.

The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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American Tower Corporation (AMT) : Free Stock Analysis Report

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