Wednesday March 26, 03:49 PM
American Tower: Highest value in sector
NEW YORK (AP) - As the first quarter draws to a close, American Tower Corp. has the richest valuation in the telecommunications services sector of the S&P 500 index.
The operator and developer of broadcast and wireless communications sites carries a ratio of stock price to projected future earnings of 137.25. The measure, sometimes called the forward P/E ratio, is often considered an indicator of relative valuation. The S&P 500, according to publisher McGraw-Hill, most recently had a P/E ratio of 19.4.
Of the companies in the group projected to report profits, Overland Park, Kan.-based Embarq Corp (NYSE: EQ - news) . has the lowest forward P/E ratio at 8.24.
Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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