American Tower Shares Fall 2.19% Ahead of October Earnings
The stock lagged the broader market, while Zacks consensus forecasts call for modest growth in quarterly earnings and revenue.
American Tower shares fell 2.19% to $163.69 in the latest trading session, underperforming the S&P 500, which lost 0.25%. The Dow fell 0.86%, while the Nasdaq gained 0.24%.
Over the past month, American Tower shares declined 4.93%. That compared with a 4.43% drop in the Finance sector and a 0.42% decline in the S&P 500.
The company is scheduled to report earnings on October 27. Zacks consensus estimates call for quarterly earnings of $2.84 per share, up 2.16% from the same quarter a year earlier. Revenue is forecast at $2.77 billion, a 2.06% increase.
For the full year, Zacks estimates earnings of $11.11 per share and revenue of $11.04 billion. Those figures represent expected increases of 3.25% and 3.68%, respectively, from the previous year.
The consensus estimate for quarterly earnings per share was unchanged over the past 30 days, according to Zacks.
This article was produced with the help of AI technology.
Source: Yahoo Finance
