In its upcoming report, Equity Residential (EQR) is predicted by Wall Street analysts to post quarterly earnings of $1.01 per share, reflecting an increase of 2% compared to the same period last year. Revenues are forecasted to be $789.82 million, representing a year-over-year increase of 2.7%.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during 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 rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Equity Residential metrics that are commonly monitored and projected by Wall Street analysts.
Analysts' assessment points toward 'Revenues- Rental income- Same store' reaching $750.59 million. The estimate suggests a change of +3.2% year over year.
Analysts expect 'Physical Occupancy Rate' to come in at 96.4%. Compared to the present estimate, the company reported 96.6% in the same quarter last year.
Analysts predict that the 'Apartment Units - Total' will reach 84,751 . The estimate is in contrast to the year-ago figure of 75,950 .
The combined assessment of analysts suggests that 'Depreciation' will likely reach $199.11 million.
View all Key Company Metrics for Equity Residential here>>>Shares of Equity Residential have experienced a change of +7.7% in the past month compared to the +0.6% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), EQR is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Equity Residential (EQR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).