Equity Residential (EQR) Releases FY14 Earnings Guidance
Equity Residential (NYSE:EQR) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.08-3.12 for the period, compared to the Thomson Reuters consensus estimate of $3.09, StockRatingsNetwork.com reports. Equity Residential also updated its Q3 guidance to $0.77-0.81 EPS.
Shares of Equity Residential (NYSE:EQR) traded down 0.38% during mid-day trading on Tuesday, hitting $65.40. 1,028,396 shares of the company’s stock traded hands. Equity Residential has a 52-week low of $50.08 and a 52-week high of $65.87. The stock has a 50-day moving average of $63.28 and a 200-day moving average of $59.65. The company has a market cap of $23.623 billion and a P/E ratio of 26.62.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 29th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.01. The company had revenue of $652.60 million for the quarter, compared to the consensus estimate of $644.28 million. During the same quarter last year, the company posted $0.71 earnings per share. Equity Residential’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Equity Residential will post $3.09 earnings per share for the current fiscal year.
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 a related note, 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $61.23.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.