Equity Residential (EQR) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS
Equity Residential (NYSE:EQR) released its earnings data on Tuesday. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.73 by $0.06, AnalystRatingsNetwork reports. The company had revenue of $639.13 million for the quarter, compared to the consensus estimate of $624.07 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 41.2% on a year-over-year basis. Equity Residential updated its Q1 guidance to $0.68-0.72 EPS and its FY14 guidance to $3.01-3.11 EPS.
Equity Residential (NYSE:EQR) traded up 1.06% on Tuesday, hitting $55.38. The stock had a trading volume of 3,303,504 shares. Equity Residential has a 52 week low of $50.08 and a 52 week high of $60.97. The stock’s 50-day moving average is $53.09 and its 200-day moving average is $53.45. The company has a market cap of $19.960 billion and a price-to-earnings ratio of 9.00.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Equity Residential in a research note to investors on Monday, January 27th. They now have a $59.00 price target on the stock, down previously from $63.00. On the ratings front, analysts at BWS Financial initiated coverage on shares of Equity Residential in a research note to investors on Thursday, January 23rd. They set a “buy” rating and a $70.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Equity Residential in a research note to investors on Tuesday, January 7th. They now have a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Equity Residential currently has an average rating of “Hold” and a consensus target price of $59.75.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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