Breathtaking Stock: American Tower Corporation (REIT) (NYSE:AMT)

American Tower Corporation (REIT) (NYSE:AMT) stock upbeat by +0.81% during the normal trading session on Wednesday and reaching a 52-week low of 61.96% during the day while it closed the day at $227.38. The stock last traded volume of 1,209,042 shares was it’s an average volume of 1,772,121 shares.

American Tower Corporation (AMT) recently stated financial results for the quarter ended June 30, 2k19. Jim Taiclet, American Tower’s Chief Executive Officer, stated, “We had another strong quarter in Q2 2k19, highlighted by 7.5% Organic Tenant Billings Growth in the U.S. and sustained momentum across our international operations. U.S. consumer demand for mobile data continues to expand over 30% per year, with broadly similar usage growth rates in our overseas markets fueling ongoing demand for tower space. In addition, initial 5G deployments are now picking up in the U.S. and we are seeing increasing signs that low and mid-band spectrum on macro towers will serve as a substantial component of next generation networks.

Capital Expenditures  During the second quarter of 2k19, total capital expenditures were $248M, of which $39M was for non-discretionary capital improvements and corporate capital expenditures. For additional capital expenditure details, please refer to the supplemental disclosure package accessible on the Company’s website.

Acquisitions  During the second quarter of 2k19, the Company spent about $43M to acquire 256 communications sites and other related assets, primarily in international markets.

Additionally, as before revealed, the Company has entered into a definitive contract to acquire Eaton Towers Holding Limited (“Eaton Towers”) for total consideration, including the assumption of existing debt, of $1.85B. Eaton Towers’ portfolio includes about 5,500 communications sites across five African markets and the transaction is predictable to close by the end of 2k19, subject to customary closing conditions and regulatory authorization s.

Liquidity  As of June 30, 2k19, the Company had $5.5B of total liquidity, consisting of $1.2B in cash and cash equivalents plus the ability to borrow an aggregate of $4.3B under its revolving credit facilities, net of any outstanding letters of credit.

On April 22, 2k19, the Company completed its before reported redemption of all of its outstanding 5.050% senior unsecured notes due 2020 for an aggregate principal amount of $700M.

On June 13, 2k19, the Company issued $650.0M aggregate principal amount of 2.950% senior unsecured notes due 2025 and $1.65B aggregate principal amount of 3.800% senior unsecured notes due 2029. The Company used the net proceeds to repay existing indebtedness under its credit facilities.

FULL YEAR 2k19 OUTLOOK
The following full year 2k19 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 July 31, 2k19. 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 July 31, 2k19 through December 31, 2k19: (a) 46.90 Argentinean Pesos; (b) 3.85 Brazilian Reais; (c) 700 Chilean Pesos; (d) 3,270 Colombian Pesos; (e) 0.89 Euros; (f) 5.45 Ghanaian Cedi; (g) 69.80 Indian Rupees; (h) 102 Kenyan Shillings; (i) 19.50 Mexican Pesos; (j) 360 Nigerian Naira; (k) 6,260 Paraguayan Guarani; (l) 3.35 Peruvian Soles; (m) 14.40 South African Rand; and (n) 3,770 Ugandan Shillings.

The Company is raising the midpoint of its full year 2k19 outlook for property revenue, net income, Adjusted EBITDA and Consolidated AFFO by $60M, $15M, $60M and $70M, respectively.

The Company’s outlook reflects estimated unfavorable impacts of foreign currency exchange rate fluctuations to property revenue, Adjusted EBITDA and Consolidated AFFO, of about $3M, $3M and $6M, respectively, as contrast to the Company’s previous2k19 outlook. 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 Corporation has PEG ratio of 3.17 and price to sale ratio of 13.28. Net profit margin of the firm was recorded at 19.30% and operating profit margin was calculated at 29.30% while gross profit margin was measured as 71.10%. Beta factor, which measures the riskiness of the security, was registered at 0.46.

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