Weingarten Realty Investors Third Quarter Earnings Sneak Peek

Weingarten Realty Investors (NYSE:WRI) will unveil its latest earnings on Monday, October 29, 2012. Weingarten Realty Investors is a real estate investment trust whose business includes leasing space to tenants in the shopping and industrial centers and also managing centers for joint ventures.

Weingarten Realty Investors Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for profit of 44 cents per share, a decline of 6.4% from the company’s actual earnings for the year-ago quarter. 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 $1.80 per share, a decline of 0.6% from last year.

Past Earnings Performance: The company has missed estimates in the last two quarters. In the second quarter, it missed the mark by 55 cents as a result of reporting net loss of 10 cents against an estimate of profit of 45 cents per share. In the first quarter, the company fell short of forecasts by one cent.

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A Look Back: In the second quarter, profit rose 1744.9% to $31.4 million (19 cents a share) from $1.7 million (-6 cents a share) the year earlier, but fell short analyst expectations. Revenue fell 26.4% to $109.9 million from $149.4 million.

Wall St. Revenue Expectations: Analysts are projecting a decline of 8.2% in revenue from the year-earlier quarter to $127.2 million.

Stock Price Performance: Between August 27, 2012 and October 23, 2012, the stock price had fallen $1.06 (-3.8%), from $28.20 to $27.14. The stock price saw one of its best stretches over the last year between January 12, 2012 and January 26, 2012, when shares rose for 10 straight days, increasing 12.4% (+$2.75) over that span. It saw one of its worst periods between September 17, 2012 and September 25, 2012 when shares fell for seven straight days, dropping 4.1% (-$1.17) over that span.

Key Stats:

On the top line, the company is hoping to use this earnings announcement to snap a string of four-straight quarters of revenue decreases. Revenue fell 5% in the third quarter of the last fiscal year, 1.2% in fourth quarter of the last fiscal year and 5.3% in the first quarter and then fell again in the second quarter.

Analyst Ratings: There are mostly holds on the stock with seven of 11 analysts surveyed giving that rating.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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