American Tower Corp reports results for the quarter ended June 30 - Earnings Summary

• American Tower Corp AMT.N reported quarterly adjusted earnings of 78 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $1.92. The mean expectation of fifteen analysts for the quarter was for earnings of $1.66 per share. Wall Street expected results to range from $1.59 to $1.73 per share.

• Revenue fell 9.4% to $2.63 billion from a year ago; analysts expected $2.60 billion.

• American Tower Corp's reported EPS for the quarter was 78 cents​.

• The company reported quarterly net income of $366.8 million.

• American Tower Corp shares had risen by 1.4% this quarter and gained 22.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1.5% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the specialized reits peer group is also "buy"

• Wall Street's median 12-month price target for American Tower Corp is $250.00, about 10.3% above its last closing price of $224.21

This summary was machine generated from LSEG data July 29 at 12:41 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)