S&P 500 (NYSE:SPY) component Equity Residential (NYSE:EQR) will unveil its latest earnings on Wednesday, July 25, 2012. Equity Residential is a real estate investment trust company that acquires and manages apartment properties in top growth markets in the United States.
Equity Residential Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 68 cents per share, a rise of 13.3% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. For the year, analysts are projecting net income of $2.72 per share, a rise of 11.9% from last year.
Past Earnings Performance: The company fell short of estimates last quarter after being in line with forecasts the quarter prior. In the first quarter, it reported profit of 61 cents per share versus a mean estimate of 62 cents. Two quarters ago, it reported net income of 65 cents per share.
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A Look Back: In the first quarter, profit rose 14.1% to $145.3 million (47 cents a share) from $127.3 million (42 cents a share) the year earlier, but fell short analyst expectations. Revenue rose 0.4% to $517.6 million from $515.4 million.
Wall St. Revenue Expectations: Analysts predict a rise of 8.4% in revenue from the year-earlier quarter to $537.9 million.
Stock Price Performance: From June 20, 2012 to July 19, 2012, the stock price rose $3.66 (6%), from $60.88 to $64.54. It saw one of its worst periods between September 12, 2011 and September 22, 2011 when shares fell for nine straight days, dropping 14.5% (-$8.73) over that span. The stock price saw one of its best stretches over the last year between January 19, 2012 and January 27, 2012, when shares rose for seven straight days, increasing 7.4% (+$4.10) over that span.
On the top line, the company is looking to build on two-straight revenue increases with this earnings announcement. Revenue rose 9.7% in the fourth quarter of the last fiscal year before climbing again in the first quarter.
The company enters this earnings announcement with steady profits recently. Net income has risen year-over-year average of 1431% for the last four quarters.
Analyst Ratings: There are mostly holds on the stock with 12 of 17 analysts surveyed giving that rating.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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