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American Tower (AMT) Reaches New Lifetime High Today

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified American Tower ( AMT) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified American Tower as such a stock due to the following factors:

  • AMT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $182.4 million.
  • AMT has traded 2.0 million shares today.
  • AMT is trading at a new lifetime high.

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More details on AMT:

American Tower Corporation is a real estate investment trust. It invests in the real estate markets across the globe. The firm through its subsidiaries owns, operates and develops wireless and broadcast communications real estate. The stock currently has a dividend yield of 1.4%. AMT has a PE ratio of 53.2. Currently there are 13 analysts that rate American Tower a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for American Tower has been 1.5 million shares per day over the past 30 days. American Tower has a market cap of $37.6 billion and is part of the financial sector and real estate industry. The stock has a beta of 0.09 and a short float of 1.6% with 2.86 days to cover. Shares are up 19.8% year-to-date as of the close of trading on Wednesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates American Tower as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, increase in net income, good cash flow from operations and growth in earnings per share. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 9.5%. Since the same quarter one year prior, revenues rose by 27.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 132.00% and other important driving factors, this stock has surged by 33.33% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, AMT should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Real Estate Investment Trusts (REITs) industry. The net income increased by 134.8% when compared to the same quarter one year prior, rising from $99.82 million to $234.43 million.
  • Net operating cash flow has significantly increased by 52.57% to $595.80 million when compared to the same quarter last year. In addition, AMERICAN TOWER CORP has also vastly surpassed the industry average cash flow growth rate of -58.18%.
  • AMERICAN TOWER CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, AMERICAN TOWER CORP reported lower earnings of $1.38 versus $1.60 in the prior year. This year, the market expects an improvement in earnings ($2.21 versus $1.38).

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