The upcoming report from Equity Residential (EQR) is expected to reveal quarterly earnings of $1.04 per share, indicating an increase of 4% compared to the year-ago period. Analysts forecast revenues of $789.34 million, representing an increase of 2.9% year over year.
Over the last 30 days, there has been an upward revision of 0.3% 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.
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 indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Equity Residential metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Revenues- Rental income- Same store' at $734.51 million. The estimate indicates a change of +2.9% from the prior-year quarter.
It is projected by analysts that the 'Physical Occupancy Rate' will reach 96.3%. Compared to the present estimate, the company reported 96.1% in the same quarter last year.
According to the collective judgment of analysts, 'Apartment Units - Total' should come in at 85,764 . The estimate compares to the year-ago value of 75,876 .
Analysts predict that the 'Depreciation' will reach $251.45 million.
View all Key Company Metrics for Equity Residential here>>>
Shares of Equity Residential have demonstrated returns of -1% over the past month compared to the Zacks S&P 500 composite's +0.9% change. With a Zacks Rank #3 (Hold), EQR is expected to mirror 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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