Wall Street analysts forecast that Equity Residential (EQR) will report quarterly earnings of $0.99 per share in its upcoming release, pointing to a year-over-year increase of 2.1%. It is anticipated that revenues will amount to $769.26 million, exhibiting an increase of 4.8% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Equity Residential metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts predict that the 'Revenues- Rental income- Same store' will reach $726.27 million. The estimate indicates a change of +1.1% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Physical Occupancy Rate' of 96.4%. The estimate compares to the year-ago value of 96.4%.
Analysts expect 'Apartment Units - Total' to come in at 85,027 . The estimate is in contrast to the year-ago figure of 79,738 .
Based on the collective assessment of analysts, 'Depreciation' should arrive at $251.20 million.
View all Key Company Metrics for Equity Residential here>>>
Shares of Equity Residential have demonstrated returns of +0.8% over the past month compared to the Zacks S&P 500 composite's +3.4% change. With a Zacks Rank #2 (Buy), EQR 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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Equity Residential (EQR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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