American Tower (NYSE:AMT) Updates FY 2024 Earnings Guidance

American Tower (NYSE:AMT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 10.450-10.620 for the period, compared to the consensus earnings per share estimate of 10.590. The company issued revenue guidance of -.

Analyst Ratings Changes

AMT has been the topic of several research reports. TD Cowen boosted their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Scotiabank dropped their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday. Finally, Barclays raised their price objective on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Stock Performance

Shares of AMT traded down $0.29 on Friday, reaching $213.25. 600,249 shares of the stock traded hands, compared to its average volume of 2,267,963. The stock’s 50-day moving average price is $228.45 and its 200-day moving average price is $208.46. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.81. The firm has a market cap of $99.60 billion, a price-to-earnings ratio of 90.10, a P/E/G ratio of 1.04 and a beta of 0.83. American Tower has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. During the same period last year, the firm earned $2.58 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts forecast that American Tower will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

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.