Analysts Expect Equity Residential (EQR) Will Post Quarterly Sales of $623.51 Million
Wall Street analysts expect Equity Residential (NYSE:EQR) to report sales of $623.51 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Equity Residential’s earnings, with the highest sales estimate coming in at $634.20 million and the lowest estimate coming in at $617.32 million. Equity Residential posted sales of $605.49 million in the same quarter last year, which would indicate a positive year over year growth rate of 3%. The firm is expected to announce its next quarterly earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that Equity Residential will report full-year sales of $623.51 million for the current fiscal year, with estimates ranging from $2.45 billion to $2.47 billion. For the next year, analysts expect that the business will post sales of $2.55 billion per share, with estimates ranging from $2.51 billion to $2.58 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Equity Residential.
Several brokerages have weighed in on EQR. Robert W. Baird reaffirmed a “hold” rating and issued a $70.00 target price on shares of Equity Residential in a research report on Friday, November 10th. Mizuho raised Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Monday, November 6th. Jefferies Group reaffirmed a “hold” rating and issued a $65.00 target price on shares of Equity Residential in a research report on Sunday, September 10th. Barclays upped their target price on Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Finally, BidaskClub raised Equity Residential from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $69.47.
Several hedge funds and other institutional investors have recently modified their holdings of EQR. Bessemer Group Inc. increased its holdings in shares of Equity Residential by 124.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 872 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Equity Residential by 4.1% during the 2nd quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 73 shares during the period. Amica Retiree Medical Trust bought a new stake in Equity Residential during the 3rd quarter valued at approximately $135,000. Zions Bancorporation boosted its stake in Equity Residential by 3,348.4% during the 3rd quarter. Zions Bancorporation now owns 2,138 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 2,076 shares during the period. Finally, Americafirst Capital Management LLC bought a new stake in Equity Residential during the 3rd quarter valued at approximately $171,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.
Equity Residential (NYSE:EQR) opened at $66.90 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.24 and a quick ratio of 0.24. Equity Residential has a 52-week low of $59.11 and a 52-week high of $70.46. The firm has a market capitalization of $25,066.14, a PE ratio of 22.00, a price-to-earnings-growth ratio of 3.45 and a beta of 0.37.
TRADEMARK VIOLATION NOTICE: This article was first reported by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.americanbankingnews.com/2017/11/29/analysts-expect-equity-residential-eqr-will-post-quarterly-sales-of-623-51-million.html.
About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.