Equity One, Inc. Second Quarter Earnings Sneak Peek

Equity One, Inc. (NASDAQ:EQY) will unveil its latest earnings on Wednesday, August 3, 2011. Equity One, Inc. operates as a self-managed real estate investment trust which mainly acquires, renovates, develops and manages neighborhood and community shopping centers anchored by leading supermarkets, drug stores or discount retail store chains.

Equity One, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 27 cents per share, a rise of 8% 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 and it has not changed during the last month. For the year, analysts are projecting profit of $1.09 per share, a rise of 9% from last year.

Past Earnings Performance: The company met estimates last quarter after beating the forecasts in the prior two. In the first quarter, the company reported net income of 28 cents per share versus a mean estimate of profit of 28 cents per share. In the fourth quarter of the last fiscal year, the company beat estimates by 0 cents.

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Wall St. Revenue Expectations: On average, analysts predict $85.9 million in revenue this quarter, a rise of 20.4% from the year ago quarter. Analysts are forecasting total revenue of $346.1 million for the year, a rise of 21.4% from last year’s revenue of $285.2 million.

Analyst Ratings: Analysts seem relatively indifferent about Equity One with 10 of 16 analysts surveyed maintaining a hold rating.

Key Stats:

The increase in profit in the first quarter breaks a streak of three consecutive quarters of year-over-year profit decreases. In the first quarter, net income rose 976.7% from the year earlier, while the figure dropped 10.7% in the fourth quarter of the last fiscal year, 66.5% in the third quarter of the last fiscal year and 59.4% in the second quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased more than twofold to $140.2 million in first quarter. The figure rose 6.5% in the fourth quarter of the last fiscal year from the year earlier, climbed 5.7% in the third quarter of the last fiscal year from the year-ago quarter and 0.1% in the second quarter of the last fiscal year.

Competitors to Watch: Kimco Realty Corporation (NYSE:KIM), Glimcher Realty Trust (NYSE:GRT), Cedar Shopping Centers Inc (NYSE:CDR), Inland Real Estate Corp. (NYSE:IRC), The Macerich Company (NYSE:MAC), Agree Realty Corporation (NYSE:ADC), Urstadt Biddle Properties Inc. (NYSE:UBA), Ramco-Gershenson Properties Trust (NYSE:RPT), Federal Realty Inv. Trust (NYSE:FRT), and Alexander’s, Inc. (NYSE:ALX).

Stock Price Performance: During June 29, 2011 to July 28, 2011, the stock price had risen 77 cents (4.1%) from $18.57 to $19.34. The stock price saw one of its best stretches over the last year between December 14, 2010 and December 30, 2010 when shares rose for 12-straight days, rising 10.2% (+$1.67) over that span. It saw one of its worst periods between July 22, 2011 and July 28, 2011 when shares fell for five-straight days, falling 3.5% (-71 cents) over that span. Shares are up $1.60 (+9%) year to date.

(Source: Xignite Financials)

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