Wall Street analysts expect Agree Realty (ADC) to post quarterly earnings of $1.08 per share in its upcoming report, which indicates a year-over-year increase of 4.9%. Revenues are expected to be $179.46 million, up 16.3% from the year-ago quarter.
Over the last 30 days, there has been an upward 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 announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation 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 Agree Realty metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts' assessment points toward 'Revenues- Rental income' reaching $171.45 million. The estimate points to a change of +11.1% from the year-ago quarter.
Analysts predict that the 'Revenues- Rental income- Operating cost reimbursement' will reach $18.20 million. The estimate points to a change of +13.1% from the year-ago quarter.
It is projected by analysts that the 'Depreciation and amortization' will reach $61.22 million.
View all Key Company Metrics for Agree Realty here>>>
Shares of Agree Realty have demonstrated returns of +5.4% over the past month compared to the Zacks S&P 500 composite's +1.1% change. With a Zacks Rank #2 (Buy), ADC 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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Agree Realty Corporation (ADC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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