American Tower Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component American Tower Corp (NYSE:AMT) will unveil its latest earnings on Tuesday, November 1, 2011. American Tower develops, owns, and operates communications sites throughout the country. Among its holdings are wireless communications towers, broadcast communications towers, and distributed antenna system.

American Tower Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 25 cents per share, a rise of 8.7% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. For the year, analysts are projecting net income of $1.03 per share, a rise of 12% from last year.

Past Earnings Performance: Last quarter, the company topped estimates by 0 cents, coming in at profit of 29 cents per share against a mean estimate of net income of 23 cents. The company fell in line with estimates in the first quarter.

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Wall St. Revenue Expectations: On average, analysts predict $617.3 million in revenue this quarter, a rise of 20.3% from the year ago quarter. Analysts are forecasting total revenue of $2.41 billion for the year, a rise of 21.7% from last year’s revenue of $1.98 billion.

Analyst Ratings: Analysts are bullish on this stock with 14 analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

A Look Back: In the second quarter, profit rose 15.6% to $115.2 million (29 cents a share) from $99.7 million (25 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 27.1% to $597.2 million from $469.9 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 22.2%, with the biggest boost coming in the most recent quarter when revenue rose 27.1% from the year earlier quarter.

The increase in profit in the second quarter came after net income fell in the previous quarter. In the first quarter, net income fell 4.6%.

Competitors to Watch: Crown Castle Intl. Corp. (NYSE:CCI), SBA Communications Corp. (NASDAQ:SBAC), Syniverse Holdings, Inc. (NYSE:SVR), AT&T Inc. (NYSE:T), Neustar, Inc (NYSE:NSR), WPCS International Inc. (NASDAQ:WPCS), Telephone & Data Systems, Inc. (NYSE:TDS), Sprint Nextel Corporation (NYSE:S), and Verizon Communications Inc. (NYSE:VZ).

Stock Price Performance: During August 2, 2011 to October 26, 2011, the stock price had risen $5.13 (10.2%) from $50.50 to $55.63. The stock price saw one of its best stretches over the last year between January 31, 2011 and February 11, 2011 when shares rose for 10-straight days, rising 11.5% (+$5.87) over that span. It saw one of its worst periods between May 10, 2011 and May 19, 2011 when shares fell for eight-straight days, falling 3% (-$1.61) over that span. Shares are up $3.99 (+7.7%) year to date.

(Source: Xignite Financials)

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