Wall Street analysts forecast that AvalonBay Communities (AVB) will report quarterly earnings of $2.80 per share in its upcoming release, pointing to a year-over-year increase of 1.1%. It is anticipated that revenues will amount to $761.75 million, exhibiting an increase of 4.9% compared to the year-ago quarter.
The current level reflects an upward revision of 0.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain AvalonBay metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenue- Rental and other income' of $756.26 million. The estimate suggests a change of +4.4% year over year.
Analysts predict that the 'Same Store Economic Occupancy' will reach 96.2%. The estimate compares to the year-ago value of 96.0%.
The average prediction of analysts places 'Depreciation expense' at $221.72 million.
View all Key Company Metrics for AvalonBay here>>>
Shares of AvalonBay have demonstrated returns of -2.3% over the past month compared to the Zacks S&P 500 composite's +3.6% change. With a Zacks Rank #2 (Buy), AVB is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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AvalonBay Communities, Inc. (AVB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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