Equity Residential (EQR) Posts Quarterly Results
Equity Residential (NYSE:EQR) posted its quarterly earnings results on Tuesday. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01, Stock Ratings News reports. The company had revenue of $652.60 million for the quarter, compared to the consensus estimate of $644.28 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Equity Residential updated its Q3 guidance to $0.77-0.81 EPS and its FY14 guidance to $3.08-3.12 EPS.
Shares of Equity Residential (NYSE:EQR) traded down 0.38% on Tuesday, hitting $65.40. 1,028,496 shares of the company’s stock traded hands. Equity Residential has a 1-year low of $50.08 and a 1-year high of $65.87. The stock’s 50-day moving average is $63.28 and its 200-day moving average is $59.65. The company has a market cap of $23.623 billion and a P/E ratio of 26.62.
Several analysts have recently commented on the stock. Analysts at Mizuho initiated coverage on shares of Equity Residential in a research note on Wednesday, July 23rd. They set a “neutral” rating on the stock. On the ratings front, analysts at Jefferies Group raised their price target on shares of Equity Residential from $49.00 to $55.00 in a research note on Tuesday, July 22nd. Finally, analysts at Barclays raised their price target on shares of Equity Residential from $63.00 to $67.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Equity Residential presently has a consensus rating of “Hold” and an average target price of $61.23.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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