Company Update (NYSE:AMT): American Tower Corporation Closes Viom Acquisition

[Business Wire] – American Tower Corporation announced today that it has closed its previously announced acquisition of a 51% controlling ownership interest in Viom Networks Limited , an owner and operator of over 42,000 communications sites in India. Read more on this. American Tower Corporation (AMT) , with a current value of $43.96B, opened this morning at $104.50. Today’s price range has been between $103.12 and $104.67 per share and has traded between $83.07 and $106.75 over the past year. AMT shares are currently priced at 18.59x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.75x earnings multiple. The company pays shareholders $2.04 per share in dividend income per year, for a current yield of 1.93%. Consensus earnings for the current quarter by the 13 sell-side analysts covering the stock is an estimate of $1.30 per share, which would be $0.05 better than the year-ago quarter and a $0.02 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $5.64 is a $0.56 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.29 Billion. If realized, that would be a 19.44% increase over the year-ago quarter. More recently, Deutsche Bank Initiated AMT at Buy (Feb 24, 2016). Previously, Morgan Stanley upgraded AMT from Equal-Weight to Overweight. Investors should keep in mind is that the average price target is $115.74, which is 10.76% above where the stock opened this morning. See more in (NYSE:AMT) Similar Articles: Market Update: American Tower Corporation (NYSE:AMT) – American Tower Corporation to Present at the 2016 Morgan Stanley Technology, Media & Telecom Conference Stock Update: American Tower Corporation (NYSE:AMT) – American Tower Corporation Prices Senior Notes Offering Stock Update: American Tower Corporation (NYSE:AMT) – American Tower Corporation to Webcast Keynote at the 2016 Citi Global Internet, Media & Telecommunications Conference