Stock News in Focus: American Tower Corporation (REIT) (NYSE: AMT)

On 19 Nov 2019, American Tower Corporation (REIT) (NYSE: AMT) stock identified change of 43.08% away from 52-week low price and recently located move of -10.92% off 52-week high price. It has market worth of $95446.42M and dividend yield of 1.67%. AMT stock has been recorded -1.64% away from 50 day moving average and 4.65% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.94% off 20-day moving average.

American Tower Corporation (AMT) recently stated financial results for the quarter ended September 30, 2019.

Jim Taiclet, American Tower’s Chief Executive Officer, stated, “U.S Organic Tenant Billings Growth of 7.1%, coupled with solid underlying demand trends in our international markets, drove strong results in the third quarter. Our tenants are making important investments in their networks as mobile data usage growth continues, and in the U.S., we are now seeing the early stages of 5G spending.

We are focused on positioning the Company to benefit from mobile network technology evolution over the long term through mutually beneficial master lease contracts, continued selective portfolio expansion and our innovation program. We are confident that our strong balance sheet, growing dividend, emphasis on operational efficiency and comprehensive global footprint position us to deliver sustainable growth for years to come.”

FULL YEAR 2019 OUTLOOK

The following full year 2019 financial and operational estimates are based on a number of assumptions that management believes to be reasonable and reflect the Company’s expectations as of October 31, 2019. Actual results may differ materially from these estimates as a result of various factors, and the Company refers you to the cautionary language regarding “forward-looking” statements included in this press release when considering this information.

The Company’s outlook is based on the following average foreign currency exchange rates to 1.00 U.S. Dollar for October 31, 2019 through December 31, 2019: (a) 64.20 Argentinean Pesos; (b) 4.15 Brazilian Reais; (c) 720 Chilean Pesos; (d) 3,440 Colombian Pesos; (e) 0.91 Euros; (f) 5.45 Ghanaian Cedi; (g) 71.50 Indian Rupees; (h) 104 Kenyan Shillings; (i) 19.70 Mexican Pesos; (j) 360 Nigerian Naira; (k) 6,400 Paraguayan Guarani; (l) 3.35 Peruvian Soles; (m) 15.05 South African Rand; and (n) 3,690 Ugandan Shillings.

The Company is raising the midpoint of its full year 2019 outlook for property revenue, net income, Adjusted EBITDA and Consolidated AFFO by $180M, $145M, $180M and $5M, respectively, as contrast to the Company’s outlook issued on July 31, 2019. The increases in property revenue, net income and Adjusted EBITDA include about $167M in additional straight-line revenue as a result of the Company’s new MLA with AT&T.

The Company’s outlook reflects estimated unfavorable impacts of foreign currency exchange rate fluctuations to property revenue, Adjusted EBITDA and Consolidated AFFO, of about $32M, $16M and $13M, respectively, as contrast to the Company’s outlook issued on July 31, 2019. The impact of foreign currency exchange rate fluctuations on net income is not provided, as the impact on all components of the net income measure cannot be calculated without unreasonable effort.

The Company’s full year 2019 outlook also reflects estimated cumulative predictable unfavorable impacts of ICCC on property revenue, Adjusted EBITDA and Consolidated AFFO of about $367M, $254M and $203M, respectively, inclusive of an predictable reduction in pass-through revenue of about $84M and the benefit of about $27M in ICCC-related settlement payments in 2019. The predictable 2019-specific impacts of ICCC to property revenue, Adjusted EBITDA and Consolidated AFFO are $178M, $134M and $107M, respectively, including $23M in lower pass-through revenue and the benefit of ICCC-related settlement payments. At this time, the Company expects the impacts of ICCC to last throughout the remainder of 2019. The Company is providing key outlook measures adjusted to quantify the impacts of ICCC on such measures and the impact of ICCC and the Company’s settlement with Tata Teleservices and related entities (“Tata”) in the fourth quarter of 2018 on growth rates as it believes that these adjusted measures better reflect the long-term trajectory of its recurring business and provide investors with a more comprehensive analysis of the Company’s operations. The impacts of ICCC and the Tata settlement on net income are not provided, as the impact on all components of the net income measure cannot be calculated without unreasonable effort.

The Financial sector company, American Tower Corporation (REIT) noticed change of 0.58% to $215.57 along volume of 1523940 shares in recent session compared to an average volume of 1735.83K. The stock observed return of 4.27% in 5 days trading activity. The stock was at -6.03% over one-month performance. AMT’s shares are at -5.19% for the quarter and driving a 31.46% return over the course of the past year and is now at 36.27% since this point in 2018.   The average volatility for the week at 1.34% and for month was at 2.10%. There are 442.76M shares outstanding and 441.59M shares are floated in market. Right now the stock beta is 0.42.

 

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