In a report released today, Timothy Horan from Oppenheimer maintained a Hold rating on American Tower Corp (AMT). The company’s shares closed on Friday at $192.95, close to its 52-week high of $198.19.
Horan said:
“American Tower reported a solid quarter with normalized consolidated rev., EBITDA and AFFO growth of 8.2%, 9.2% and 10% in 1Q19. The revenue is in line with five- year trends (despite a much larger base) and has accelerated from a year ago. The US is 150 bps above and International slightly below. AFFO has been growing in the 15% range, and when the Impact from India lessens, we think it can move back to 12% +. Reported growth rates are not meaningful, given the changes in India, but revenue was in line with our estimates but on better margins. AMT maintained guidance for the year, which looks conservative. Fundamental tailwinds are very healthy, and the business is performing marginally above our estimates. We update estimates for recent results and guidance, which we think AMT can beat.”
According to TipRanks.com, Horan is a top 25 analyst with an average return of 17.7% and a 78.4% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Zayo Group Holdings.
American Tower Corp has an analyst consensus of Moderate Buy, with a price target consensus of $200.57.
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Based on American Tower Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $397 million. In comparison, last year the company had a net profit of $285 million.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock.
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American Tower Corp. is a real estate investment trust, which owns, operates, and develops multitenant communications real estate. It operates through the following segments: U.S. Property, Asia Property, Europe, Middle East and Africa Property, Latin America Property and Services. The U.S. Property segment operates in the United States.
