As of Friday close, American Tower Corporation’s (NYSE:AMT) stock was down -$3.11, moving down -1.84 percent to $166.21. The average number of shares traded per day over the past five days has been 2,245,980 shares. 1 time new highs have been achieved over the past 5 days, with a -$13.93 fall in that time frame. In the last twenty days, the average volume was 1,892,515, while in the previous 50 days, it was 2,123,520.
Since last month, AMT stock retreated -6.54%. Shares of the company fell to $165.91 on 09/22/23, the lowest level in the past month. A 52-week high of $236.46 was reached on 01/17/23 after having rallying from a 52-week low of $169.15. Since the beginning of this year, AMT’s stock price has dropped by -21.55% or -$45.65, and marked a new high 7 times. However, the stock has declined by -29.71% since its 52-week high.
AMT stock investors should be aware that American Tower Corporation (AMT) stock had its last reported insider trading activity 37 days ago on Aug 17. Smith Rodney M, the EVP, CFO & Treasurer of the company, disposed of 10,000 shares for $178.14 on Aug 17. It resulted in a $1,781,368 divestment by the insider. HORMATS ROBERT D sold 125 shares at an average price of $185.34 on Aug 15. The insider now owns 7,243 shares following the transaction. On Aug 10, EVP, CFO & Treasurer Smith Rodney M sold 2,727 shares at $187.17 apiece. The transaction was valued at $510,413.
Valuation Metrics
Right now, American Tower Corporation (AMT) has a P/E ratio of about 80.37. The stock’s beta is 0.59. Besides these, the trailing price-to-sales (P/S) ratio of 7.14, the price-to-book (PB) ratio of 15.00, and the price-to-cash flow ratio of 32.49 may also be considered.
The latest dividend of $1.62 per share was paid out, which is 3.18% more than last year’s $1.57.
Financial Health
In the three months ended June 29, American Tower Corporation’s quick ratio stood at 0.50, while its current ratio was 0.50, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 6.89, and the total debt-to-equity ratio was 7.51. On the profitability front, the trailing twelve-month gross margin is 70.00% percent. In the year ended June 29, operating margins totaled 22.80%. Based on annual data, AMT earned $2.35 billion in gross profit and brought in $10.71 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 5.30%. Return on equity (ROE) for the past 12 months was 17.30%.
In American Tower Corporation’s quarter-end financial report for June 29, it reported total debt of $35.59 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. AMT’s revenue rose 3.51% to $2.77 billion during the quarter, while net income inched up to $2.77 billion. While analysts expected American Tower Corporation to report $1.1 quarterly earnings, the actual figure was $1.02 per share, beating the consensus estimate by -7.30%. During the quarter, the company generated $1.64 billion in EBITDA. The value of shareholders’ equity is $466.16 million.
Technical Picture
This quick technical analysis looks at American Tower Corporation’s (AMT) price momentum. With a historical volatility rate of 26.50%, the RSI 9-day stood at 21.19% on 22 September.
With respect to its five-day moving average, the current American Tower Corporation price is down by -7.73% percent or -$13.93. At present, AMT shares trade -6.18% below its 20-day simple moving average and -16.69% percent below its 100-day simple moving average. However, the stock is currently trading approximately -15.56% below its SMA50 and -22.91% below its SMA200.
Stochastic coefficient K was 9.20% and Stochastic coefficient D was 18.87%, while ATR was 4.07. Given the Stochastic reading of 1.70% for the 14-day period, the RSI (14) reading has been calculated as 27.52%. As of today, the MACD Oscillator reading stands at -5.37, while the 14-day reading stands at -6.83.
Analyst Ratings
BMO Capital Markets launched its rating on American Tower Corporation (NYSE: AMT) to an Outperform in a note to investors on July 13, 2023. American Tower Corporation (AMT) has been rated Overweight by analysts. According to 0 brokerage firms, AMT is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 4 analysts rate American Tower Corporation stock as buy, with 13 recommending it as overweight.
With a median target price of $229.00, the current consensus forecast for the stock is $205.00 – $271.00. Based on these forecasts, analysts predict American Tower Corporation (AMT) will achieve an average price target of $230.87.
