American Tower (AMT) closed the most recent trading day at $220.79, moving -0.11% from the previous trading session. This change lagged the S&P 500's daily gain of 0.25%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, added 7.26%.
Prior to today's trading, shares of the wireless communications infrastructure company had gained 2.45% over the past month. This has lagged the Finance sector's gain of 7.22% and the S&P 500's gain of 5.73% in that time.
Investors will be hoping for strength from American Tower as it approaches its next earnings release, which is expected to be February 23, 2023. The company is expected to report EPS of $2.23, up 2.29% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.67 billion, up 9.22% from the year-ago period.
Any recent changes to analyst estimates for American Tower should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.24% lower. American Tower is currently a Zacks Rank #4 (Sell).
Looking at its valuation, American Tower is holding a Forward P/E ratio of 22.28. This valuation marks a premium compared to its industry's average Forward P/E of 12.3.
Meanwhile, AMT's PEG ratio is currently 1.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.08 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Tower Corporation (AMT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research