Seeking Clues to AvalonBay (AVB) Q1 Earnings? A Peek Into Wall Street Projections for Key Metrics
Wall Street analysts expect AvalonBay Communities (AVB) to post quarterly earnings of $2.80 per share in its upcoming report, which indicates a year-over-year increase of 3.7%. Revenues are expected to be $747.26 million, up 4.8% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some AvalonBay metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Revenue- Rental and other income' should come in at $744.31 million. The estimate points to a change of +4.7% from the year-ago quarter.
Based on the collective assessment of analysts, 'Same Store Economic Occupancy' should arrive at 95.8%. Compared to the present estimate, the company reported 95.9% in the same quarter last year.
It is projected by analysts that the 'Depreciation expense' will reach $217.35 million. Compared to the current estimate, the company reported $212.27 million in the same quarter of the previous year.View all Key Company Metrics for AvalonBay here>>>AvalonBay shares have witnessed a change of -3.2% in the past month, in contrast to the Zacks S&P 500 composite's -0.8% move. With a Zacks Rank #3 (Hold), AVB is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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This article originally published on Zacks Investment Research (zacks.com).
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