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American Tower Q4 Earnings Preview
Posted February 21, 2012
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American Tower (NYSE:AMT) is a wireless and broadcast communications infrastructure company that develops, owns, and operates communications sites. The company will report its fourth quarter earnings on Thursday, February 23, 2012.
Expectations: The Wall Street consensus is that the company will report 31 cents per share, up 47.6% from a year ago when American Tower reported earnings of 21 cents per share. The consensus estimate has risen from 29 cents over the past three months. For the fiscal year, analysts are expecting earnings of 78 cents per share. Revenue is expected to remain at $652.3 million for the quarter. Expected revenue for the fiscal year is $2.44 billion.
Performance: The company has reported revenue growth for three quarters in a row. In third quarter, revenue rose 22.8% to $630.4 million while the figure rose 27.1% in the second quarter from the year earlier and 23.8% in the first quarter. American Tower's loss in the last quarter followed profits in the previous two quarters. The company reported a loss of $15.7 million in the third quarter and a profit of $115.2 million in the second quarter and profit of $91.8 million in the first quarter. The stock price has risen from $56 on November 22, 2011 to $62.50 over the past quarter. The biggest recent change for American Tower's stock price came on December 20, 2011, when it rose $2.62 per share to $59.80.
Ratings: Analysts are optimistic about the stock, with 89.5% assigning it a buy rating. The company's nearest nine competitors only average 44% buys. Analysts' buy ratings have increased slightly over the last three months.
Earnings estimates provided by Zacks.
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