The upcoming report from Sun Communities (SUI) is expected to reveal quarterly earnings of $1.37 per share, indicating a decline of 2.8% compared to the year-ago period. Analysts forecast revenues of $504.26 million, representing a decline of 32.4% year over year.
Over the last 30 days, there has been an upward revision of 6.8% 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions 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.
Given this perspective, it's time to examine the average forecasts of specific Sun Communities metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Revenues- Real property (excluding transient)' will reach $370.51 million. The estimate points to a change of -18.8% from the year-ago quarter.
The consensus estimate for 'Revenues- Real property - transient' stands at $29.40 million. The estimate indicates a change of -34.1% from the prior-year quarter.
Based on the collective assessment of analysts, 'Revenues- Service, retail, dining and entertainment' should arrive at $10.81 million. The estimate indicates a change of -91.9% from the prior-year quarter.
The average prediction of analysts places 'Revenues- Brokerage commissions and other, net' at $10.61 million. The estimate indicates a change of -38.3% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues- Home sales' of $67.09 million. The estimate points to a change of -23.9% from the year-ago quarter.
Analysts predict that the 'Revenues- Interest' will reach $9.34 million. The estimate indicates a year-over-year change of +76.2%.
Analysts' assessment points toward 'Depreciation and amortization' reaching $130.35 million.
View all Key Company Metrics for Sun Communities here>>>
Shares of Sun Communities have experienced a change of +4% in the past month compared to the -0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), SUI is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Sun Communities, Inc. (SUI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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