American Tower (AMT) Set to Announce Quarterly Earnings on Tuesday

American Tower (NYSE:AMT - Get Free Report) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $2.50 per share for the quarter. American Tower has set its FY 2024 guidance at 10.480-10.720 EPS and its FY24 guidance at $10.48-$10.72 EPS.Parties that are interested in participating in the company's conference call can do so using this link.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS. 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 Trading Up 0.0 %

NYSE AMT traded up $0.05 during trading on Tuesday, reaching $221.52. 1,971,495 shares of the stock traded hands, compared to its average volume of 2,274,004. The firm has a market cap of $103.44 billion, a price-to-earnings ratio of 50.14, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. The stock's 50-day moving average price is $228.54 and its 200 day moving average price is $206.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower has a fifty-two week low of $157.25 and a fifty-two week high of $243.56.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is presently 146.61%.

Insiders Place Their Bets

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares of the company's stock, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company's stock, valued at $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMT has been the subject of several research analyst reports. Scotiabank upped their price target on shares of American Tower from $223.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, July 31st. BMO Capital Markets upped their price target on shares of American Tower from $246.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, September 13th. The Goldman Sachs Group initiated coverage on shares of American Tower in a report on Monday, July 1st. They issued a "buy" rating and a $230.00 price target for the company. TD Cowen upped their price target on shares of American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Finally, StockNews.com raised shares of American Tower from a "hold" rating to a "buy" rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, American Tower has an average rating of "Moderate Buy" and an average price target of $237.92.

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