In the latest market close, American Tower (AMT) reached $237.14, with a -0.77% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.75%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1%.

Coming into today, shares of the wireless communications infrastructure company had gained 7.07% in the past month. In that same time, the Finance sector gained 4.06%, while the S&P 500 gained 4.03%.

Market participants will be closely following the financial results of American Tower in its upcoming release. It is anticipated that the company will report an EPS of $2.59, marking a 0.39% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.85 billion, up 1.09% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.52 per share and revenue of $11.21 billion. These totals would mark changes of +6.59% and +0.57%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for American Tower. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. American Tower presently features a Zacks Rank of #3 (Hold).

In terms of valuation, American Tower is currently trading at a Forward P/E ratio of 22.72. This represents a premium compared to its industry's average Forward P/E of 12.72.

It's also important to note that AMT currently trades at a PEG ratio of 1.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 2.42 as of yesterday's close.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 36% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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