Equity Residential (EQR) Posts Quarterly Earnings, Beats Expectations By $0.01 EPS
Equity Residential (NYSE:EQR) announced its earnings results on Thursday. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.72 by $0.01, AnalystRatings.Net reports. The company had revenue of $629.45 million for the quarter, compared to the consensus estimate of $640.55 million. During the same quarter in the prior year, the company posted $0.92 earnings per share.
Equity Residential (NYSE:EQR) opened at 53.15 on Thursday. Equity Residential has a 1-year low of $50.24 and a 1-year high of $60.97. The stock has a 50-day moving average of $54.35 and a 200-day moving average of $55.82. The company has a market cap of $19.152 billion and a P/E ratio of 9.16.
A number of analysts have recently weighed in on EQR shares. Analysts at Raymond James upgraded shares of Equity Residential from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, October 17th. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of Equity Residential in a research note to investors on Friday, September 27th. They now have a $57.00 price target on the stock. Finally, analysts at Argus cut their price target on shares of Equity Residential from $68.00 to $65.00 in a research note to investors on Wednesday, September 18th. They now have a “buy” rating on the stock. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $60.73.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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