Equity One Inc. Third Quarter Earnings Sneak Peek

Equity One, Inc. (NYSE:EQY) will unveil its latest earnings on Wednesday, November 2, 2011. Equity One 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 profit of 26 cents per share, a decline of 3.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 27 cents. Between one and three months ago, the average estimate moved up. It has dropped from 28 cents during the last month. For the year, analysts are projecting net income of $1.08 per share, a rise of 8% from last year.

Past Earnings Performance: The company topped forecasts last quarter after being in line with estimates the quarter prior. In the second quarter, it reported profit of 28 cents per share versus a mean estimate of 27 cents. Two quarters ago, it reported net income of 28 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $88.3 million in revenue this quarter, a rise of 23.5% from the year ago quarter. Analysts are forecasting total revenue of $349.1 million for the year, a rise of 22.4% from last year’s revenue of $285.2 million.

Analyst Ratings: Analysts seem relatively indifferent about Equity One with 10 of 15 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit rose 19.2% to $7.4 million (7 cents a share) from $6.2 million (7 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 31.8% to $93.5 million from $71 million.

Key Stats:

Revenue has risen the past four quarters. Revenue rose more than twofold in the first quarter from the year earlier, climbed 6.5% in the fourth quarter of the last fiscal year from the year-ago quarter and 5.7% in the third quarter of the last fiscal year.

The company has now been profitable for the last eight quarters, and for the last four, profit has risen year over year by an average of more than threefold. The quarter with the biggest boost was the first quarter, which saw a 976.7% surge.

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 October 21, 2011 to October 27, 2011, the stock price had risen $1.51 (9.4%) from $16.14 to $17.65. 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% (+$1.65) over that span. It saw one of its worst periods between July 29, 2011 and August 8, 2011 when shares fell for seven-straight days, falling 22% (-$4.22) over that span. Shares are up 13 cents (+0.7%) year to date.

(Source: Xignite Financials)

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