The stock of American Tower Corp (NYSE:AMT) gapped down by $0.07 today and has $105.52 target or 6.00% below today’s $112.25 share price. The 5 months technical chart setup indicates high risk for the $47.76B company. The gap down was reported on Oct, 4 by Barchart.com. If the $105.52 price target is reached, the company will be worth $2.87B less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 0.96% or $1.09 on October 3, hitting $112.25. American Tower Corp (NYSE:AMT) has risen 18.53% since March 1, 2016 and is uptrending. It has outperformed by 6.32% the S&P500.
Analysts await American Tower Corp (NYSE:AMT) to report earnings on November, 3. They expect $1.39 earnings per share, up 6.11% or $0.08 from last year’s $1.31 per share. AMT’s profit will be $591.42M for 20.19 P/E if the $1.39 EPS becomes a reality. After $1.38 actual earnings per share reported by American Tower Corp for the previous quarter, Wall Street now forecasts 0.72% EPS growth.
American Tower Corp (NYSE:AMT) Ratings Coverage
Out of 12 analysts covering American Tower Corporation (NYSE:AMT), 11 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 92% are positive. American Tower Corporation has been the topic of 24 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Macquarie Research given on Monday, November 9. Argus Research maintained American Tower Corp (NYSE:AMT) on Wednesday, August 17 with “Buy” rating. Stifel Nicolaus maintained American Tower Corp (NYSE:AMT) rating on Monday, November 2. Stifel Nicolaus has “Buy” rating and $120 price target. The stock of American Tower Corp (NYSE:AMT) earned “Hold” rating by Zacks on Wednesday, August 26. Morgan Stanley upgraded the shares of AMT in a report on Thursday, August 6 to “Overweight” rating. The stock of American Tower Corp (NYSE:AMT) has “Outperform” rating given on Monday, May 2 by RBC Capital Markets. RBC Capital Markets maintained it with “Outperform” rating and $122 target price in Thursday, July 30 report. Stifel Nicolaus initiated it with “Buy” rating and $112 target price in Wednesday, August 26 report. The firm has “Buy” rating given on Thursday, June 16 by Citigroup. The stock has “Buy” rating given by Citigroup on Monday, July 11.
According to Zacks Investment Research, “American Tower Corporation is a wireless communications and broadcast infrastructure company with three operating segments. The company operates a leading network of communications towers and is the largest independent operator of broadcast towers in North America. The company provides comprehensive network development services for wireless service providers and broadcasters. The company also operates a leading teleport business, which transmits Internet, voice, data and video communications worldwide.”
Insitutional Activity: The institutional sentiment decreased to 1.04 in 2016 Q2. Its down 0.17, from 1.21 in 2016Q1. The ratio fall, as 31 funds sold all American Tower Corp shares owned while 270 reduced positions. 76 funds bought stakes while 236 increased positions. They now own 390.54 million shares or 3.63% less from 405.23 million shares in 2016Q1.
Checchi Capital Advisers Limited accumulated 0.05% or 4,059 shares. Davidson & Garrard holds 0.57% or 20,207 shares in its portfolio. The New York-based Cantillon Mngmt Limited Company has invested 2.18% in American Tower Corp (NYSE:AMT). Us State Bank De last reported 591,376 shares in the company. Argent Tru Com, a Tennessee-based fund reported 3,949 shares. Wells Fargo & Communication Mn holds 0.17% of its portfolio in American Tower Corp (NYSE:AMT) for 3.96M shares. The Illinois-based Great Lakes Lc has invested 0.09% in American Tower Corp (NYSE:AMT). Wagner Bowman Mngmt Corporation holds 0.37% of its portfolio in American Tower Corp (NYSE:AMT) for 8,416 shares. Fil Limited, a Bermuda-based fund reported 507,655 shares. Retirement Of Alabama has invested 0.31% of its portfolio in American Tower Corp (NYSE:AMT). Counselors, a Missouri-based fund reported 13,160 shares. Ibm Retirement Fund has 55,349 shares for 0.23% of their US portfolio. The Illinois-based Ubs Asset Mngmt Americas has invested 0.15% in American Tower Corp (NYSE:AMT). Washington Tru owns 33,564 shares or 0.26% of their US portfolio. California Employees Retirement System owns 1.01 million shares or 0.19% of their US portfolio.
Insider Transactions: Since April 15, 2016, the stock had 0 insider buys, and 20 insider sales for $62.26 million net activity. Shares for $165,880 were sold by THOMPSON SAMME L. 5,000 shares were sold by DOLAN RAYMOND P, worth $530,000. DiSanto Edmund sold $4.56 million worth of stock or 41,875 shares. $4.74M worth of American Tower Corp (NYSE:AMT) shares were sold by TAICLET JAMES D JR. $581,688 worth of shares were sold by KATZ CAROLYN on Tuesday, September 6. Shares for $5.77M were sold by Bartlett Thomas A. The insider Meyer Robert Joseph JR sold $337,560.
More important recent American Tower Corp (NYSE:AMT) news were published by: Reuters.com which released: “BRIEF-American Tower Corp prices senior notes offering” on September 28, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: Monogram Residential Trust, American Tower and VEREIT”, Seekingalpha.com published: “American Tower Corporation: Positioning For Long-Term Growth” on September 20, 2016. More interesting news about American Tower Corp (NYSE:AMT) was released by: Businesswire.com and their article: “American Tower Corporation Declares Quarterly Distribution” with publication date: September 16, 2016.
AMT Company Profile
American Tower Corporation (ATC), incorporated on October 24, 1996, is a holding company. The Firm operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. The Company’s divisions include U.S. property, Asia property, EMEA property, Latin America property, Services and Other. The Company’s primary business is property operations, which include the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities, and tenants in various other industries. The Company’s U.S. property segment includes activities in the United States. The Company’s Asia property segment includes activities in India. The EMEA property segment includes activities in Germany, Ghana, Nigeria, South Africa and Uganda. The Latin America property segment includes activities in Brazil, Chile, Colombia, Costa Rica, Mexico and Peru. The Company’s services segment includes tower-related services in the United States, including site acquisition, zoning and permitting and structural analysis, which primarily supports its site leasing business, including the addition of tenants and equipment on its sites.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.