American Tower (NYSE:AMT) Announces Quarterly Earnings Results

American Tower (NYSE:AMT) posted its earnings results on Tuesday. The real estate investment trust reported $1.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.86 by ($0.60), Fidelity Earnings reports. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.93 billion. American Tower had a net margin of 24.90% and a return on equity of 32.51%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS.

NYSE AMT traded down $9.40 during trading hours on Friday, hitting $223.53. 202,431 shares of the company’s stock were exchanged, compared to its average volume of 1,730,757. The business’s 50 day moving average is $239.95 and its 200-day moving average is $225.67. American Tower has a 12-month low of $172.39 and a 12-month high of $258.62. The firm has a market capitalization of $107.49 billion, a P/E ratio of 52.76, a price-to-earnings-growth ratio of 1.56 and a beta of 0.40. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.53 and a current ratio of 0.52.

AMT has been the topic of several research reports. Goldman Sachs Group raised American Tower from a “neutral” rating to a “buy” rating and upped their target price for the company from $204.00 to $270.00 in a report on Monday, January 13th. Citigroup upped their price objective on American Tower from $234.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. KeyCorp upped their price objective on American Tower from $254.00 to $273.00 and gave the company an “overweight” rating in a research report on Wednesday. Cowen upped their price objective on American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research report on Friday, November 1st. Finally, Credit Suisse Group restated a “hold” rating and issued a $265.00 price objective on shares of American Tower in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $231.00.

In other news, EVP Steven O. Vondran sold 1,261 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $229.68, for a total value of $289,626.48. Following the transaction, the executive vice president now directly owns 28,705 shares in the company, valued at approximately $6,592,964.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Samme L. Thompson sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $227.56, for a total value of $682,680.00. Following the completion of the transaction, the director now owns 22,598 shares in the company, valued at $5,142,400.88. The disclosure for this sale can be found here. Insiders have sold 4,574 shares of company stock worth $1,043,846 over the last quarter. 0.75% of the stock is currently owned by company insiders.

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 approximately 171,000 communications sites.

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Earnings History for American Tower (NYSE:AMT)

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