American Tower Corp. (NYSE:AMT) finished Friday with an addition of $2.13 to close at $164.45, an upside of 1.31 percent. An average of 2,757,160 shares of common stock have been traded in the last five days. There was a fall of -$1.76 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 2,204,060 shares traded, while the 50-day average volume stands at 2,065,086.
AMT stock has decreased by -9.78% in the last month. The company shares reached their 1-month lowest point of $158.17 on 09/27/23. With the stock rallying to its 52-week high on 01/17/23, shares of the company touched a low of $158.17 and a high of $235.57 in 52 weeks. It has reached a new high 7 times so far this year and lost -22.38% or -$47.41 in price. In spite of this, the price is down -30.19% from the 52-week high.
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Insider Transactions
AMT stock investors should be aware that American Tower Corp. (AMT) stock had its last reported insider trading activity 44 days ago on Aug 17. In this transaction, the insider spent $1,781,368. Director, HORMATS ROBERT D, disposed of 125 shares at a price of $185.34 on Aug 15. The insider now owns more than $23,168 worth of shares. Prior to that, EVP, CFO & Treasurer Smith Rodney M went on to Sale 2,727 shares at $187.17 each on Aug 10. An amount of $510,413 was transacted.
Valuation Metrics
American Tower Corp. (AMT) has a trailing price-to-earnings (P/E) ratio of 79.51. The stock’s beta is 0.60. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.02, the price-to-book (PB) ratio at 14.84, and the price-to-cash flow ratio at 31.98.
The company has a payout ratio of 153.57%. The company’s most recent quarterly dividend payment was $1.62 a share, representing a up of 3.18% from $1.57 last year.
Financial Health
Further, the company has a long term debt to equity ratio of 8.36 and a total debt to equity ratio of 9.13 for the quarter ending June 29. Its gross profit as reported stood at $2.35 billion compared to revenue of $10.71 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, American Tower Corp.’s return on assets was 1.43%.
Earnings Surprise
For the three-month period that ended June 29, American Tower Corp. had $35.59 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $475.7 million in the quarter, while revenues of $335.8 million were shrunk -88.82%. The analyst consensus anticipated American Tower Corp.’s latest quarter earnings to come in at $1.1 per share, but it turned out to be $1.02, a -7.30% surprise. For the quarter, EBITDA amounted to $1.64 billion. At the end of the quarter ending June 29, American Tower Corp.’s stock balance sheet showed total debt was $47.18 billion. Shareholders own equity worth $466.16 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at American Tower Corp. (AMT) price momentum. RSI 9-day as of the close on 29 September was 33.04%, suggesting the stock is Neutral, with historical volatility in this time frame at 27.62%.
As of today, AMT’s price is $163.02 -1.06% or -$1.76 from its 5-day moving average. AMT is currently trading -9.30% lower than its 20-day SMA and -14.89% lower than its 100-day SMA. However, the stock’s current price level is -10.94% below the SMA50 and -23.82% below the SMA200.
The stochastic %K and %D were 16.35% and 10.40%, respectively, and the average true range (ATR) was 4.03. With the 14-day stochastic at 25.89% and the average true range at 4.01, the RSI (14) stands at 33.46%. The stock has reached -5.11 on the 9-day MACD Oscillator while the 14-day reading was at -9.44.
Analyst Ratings
BMO Capital Markets launched coverage on American Tower Corp. (NYSE: AMT) in its analyst report released on July 13, 2023. The firm assigned the stock an Outperform rating. The consensus rating for American Tower Corp. (AMT) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell AMT, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 13 others rate it as a “buy”.
What is AMT’s price target for the next 12 months?
Analysts predict a range of price targets between $198.00 and $271.00, with a median target of $221.00. Taking a look at these predictions, the average price target given by analysts for American Tower Corp. (AMT) stock is $225.93.
