Revenue Update on American Tower Corp(NYSE:AMT)

American Tower Corp(NYSE:AMT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $1.44B. Analysts estimated a revenue of $1.43B. Earnings per share were $1.38. Analysts had estimated an EPS of $1.36.

In a different note, On Jul 13, 2016, Citigroup said it Maintains its rating on American Tower Corp. In the research note, the firm Raises the price-target to $121.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 11, 2016, Citigroup said it Maintains its rating on American Tower Corp. In the research note, the firm Raises the price-target to $121.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 16, 2016, Citigroup said it Maintains its rating on American Tower Corp. In the research note, the firm Raises the price-target to $108.00 per share. The shares have been rated ‘Buy’ by the firm.

American Tower Corp (AMT) made into the market gainers list on Thursdays trading session with the shares advancing 0.60% or 0.69 points. Due to strong positive momentum, the stock ended at $116.42, which is also near the day’s high of $117. The stock began the session at $115.99 and the volume stood at 17,73,786 shares. The 52-week high of the shares is $118.26 and the 52 week low is $83.07. The company has a current market capitalization of $49,535 M and it has 42,54,89,210 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 19, 2016, James D Jr Taiclet (Chairman, President and CEO) sold 40,625 shares at $117.00 per share price.Also, On Jul 15, 2016, Edmund Disanto (EVP, Chief Admin Ofr, GC & Sec) sold 21,087 shares at $116.71 per share price.On Jul 13, 2016, Steven C. Marshall (EVP & President, U.S. Tower) sold 50,000 shares at $115.50 per share price, according to the Form-4 filing with the securities and exchange commission.

American Tower Corporation is an independent owner operator and developer of communications real estate. The Company is engaged in the leasing of space on multi-tenant communications sites to wireless service providers radio and television broadcast companies wireless data and data providers government agencies and municipalities and tenants in a number of other industries. It has a portfolio of over 87000 communications sites. The Company’s continuing operations are managed through three segments: Domestic Rental and Management which includes its property interests that it leases to communications service providers and third-party tower operators in the United States; International Rental and Management which includes its interests in international communications sites and Network Development Services which offers tower-related services domestically including site acquisition zoning and permitting services and structural analysis services.

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