The stock of American Tower Corporation (NYSE:AMT) decreased by -$2.17 on Tuesday to finish at $177.36, down -1.21 percent. The last five days have seen an average of 1,941,980 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$34.50. The average number of shares traded over the last 20 days was 1,705,095, while the average volume over the last 50 days totaled 2,058,822.
AMT stock appreciated 0.52% since last month. On 08/21/23, the company’s shares reached a one-month low of $172.55. The stock touched a high of $247.78 on 01/17/23, after rallying from a low of $172.55 in 52 weeks. The price of AMT stock has declined by -16.28% or -$34.50 this year, reaching a new high 7 times. Still, the stock price is down -28.42% from the 52-week high.
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Insider Transactions
AMT stock investors should be aware that American Tower Corporation (AMT) stock had its last reported insider trading activity 34 days ago on Aug 17. On Aug 17, EVP, CFO & Treasurer Smith Rodney M sold 10,000 shares at $178.14 each. This transaction resulted in the insider making $1,781,368. On Aug 15, HORMATS ROBERT D sold 125 shares at a price of US$185.34. After the transaction, the insider now owns 7,243 shares. EVP, CFO & Treasurer Smith Rodney M had earlier sold 2,727 shares on Aug 10 for $187.17 a share. The transaction was completed for $510,413.
Valuation Metrics
American Tower Corporation (AMT) has a trailing price-to-earnings (P/E) ratio of 85.76. Beta for the stock is 0.58. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 7.61, the price-to-book (PB) ratio of 16.01, and the price-to-cash flow ratio of 34.67.
Company paid $1.57 per share in dividends, an increase of 0.64% from $1.56 last year. A $0.01 dividend increase was reported on Thursday May 25 2023.
Financial Health
For the three months ended June 29, American Tower Corporation’s quick ratio was 0.50, while its current ratio was 0.50, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 6.89, and the total debt to equity ratio is 7.51. As far as profitability goes, gross margin for the trailing twelve months is 70.00% percent. American Tower Corporation’s operating margin stood at 22.80% for the same period. Based on annual data, it had gross profit of $2.35 billion and revenue of $10.71 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. AMT’s return on assets (ROA) during the last 12 months has been 1.40%. There was a 5.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 17.30%.
Earnings Surprise
According to American Tower Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.77 billion, while revenues rose by 3.51% to $2.77 billion. It was predicted that American Tower Corporation’s quarterly earnings would be $1.02, but it ended up being $1.1, beating the consensus by -7.30%. EBITDA was $1.64 billion for the quarter. At the end of American Tower Corporation’s most recent quarter ended June 29, its total debt was $47.18 billion. Equity owned by shareholders amounts to $466.16 million.
Technical Picture
Here’s a quick look at American Tower Corporation’s (AMT) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 40.93%, suggesting the stock is Neutral, with a 21.44% historical volatility rate.
The stochastic %K and %D were 41.08% and 47.23% respectively, while the average true range (ATR) was 3.69. Based on the 14-day stochastic reading of 22.30%, the RSI (14) reading is 42.33%. On the 9-day MACD Oscillator, the stock is at -0.76, and the 14-day reading is at -1.05.
Analyst Ratings
In its analyst report released on July 13, 2023, BMO Capital Markets began covering American Tower Corporation (NYSE: AMT). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned American Tower Corporation (AMT) an Overweight rating. AMT is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 4 rates it overweight and 13 others recommend it as a buy.
What is AMT’s price target for the next 12 months?
The current consensus forecast for the stock is between $205.00 and $271.00, with a median target price of $229.00. In analyzing these forecasts, the average price target given by analysts for American Tower Corporation (AMT) is $231.67.
