We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Brookdale (BKD) Sees 31 Months of Y/Y Occupancy Growth Streak
Read MoreHide Full Article
Brookdale Senior Living Inc. (BKD - Free Report) recently announced that its May 2024 weighted average occupancy grew 150 basis points (bps) from the year-ago level to 78.1%. The weighted average occupancy for the second quarter-to-date rose 160 bps year over year to 78%. This marks a great start to the year, along with a 160 bps year-over-year increase to 77.9% in the first quarter.
Brookdale Senior Living has witnessed 31 straight months of year-over-year increases in weighted average occupancy. This suggests that the company is witnessing continuous growth in occupancy rates, which is likely to lead to higher resident fee revenues. This favorable trend is expected to continue going forward, further bolstering the company's overall performance, as the portion of the senior population is expected to grow.
In the first quarter of 2024, BKD’s resident fee revenues witnessed 4.3% year-over-year growth to $744.2 million. Its RevPAR (revenue per available unit) and Adjusted EBITDA grew 6.7% and 10.1% year-over-year, respectively, in the March quarter. According to the company’s earlier guidance, second quarter 2024 RevPAR year-over-year growth was expected within 6.25-6.75%. Also, adjusted EBITDA was expected to be within the $93-$98 million range.
The RevPAR and occupancy growth are likely to have boosted its results. The Zacks Consensus Estimate for the second-quarter 2024 bottom line signals a 13.3% improvement from the year-ago figure. Notably, it beat earnings estimates in two of the last four quarters and missed on the other occasions. This is depicted in the figure below.
Brookdale Senior Living Inc. Price and EPS Surprise
The Zacks Consensus Estimate for Sera Prognostics’ 2024 bottom line suggests a 19% year-over-year improvement. SERA‘s average earnings surprise for the past four quarters is at 3.7%. The consensus mark for its current-year revenues indicates a 14.4% year-over-year increase.
The Zacks Consensus Estimate for HealthEquity’s current-year earnings implies a 30.2% increase from the year-ago reported figure. HQY beat earnings estimates in each of the last four quarters, with an average surprise of 17.2%. The consensus mark for its current-year revenues is pegged at almost $1.2 billion, which indicates a 16.3% year-over-year increase.
The Zacks Consensus Estimate for Aura Biosciences’ current-year earnings suggests a 6.7% year-over-year improvement. It has witnessed two upward estimate revisions over the past 60 days against no movement in the opposite direction. AURA beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 1.6%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Brookdale (BKD) Sees 31 Months of Y/Y Occupancy Growth Streak
Brookdale Senior Living Inc. (BKD - Free Report) recently announced that its May 2024 weighted average occupancy grew 150 basis points (bps) from the year-ago level to 78.1%. The weighted average occupancy for the second quarter-to-date rose 160 bps year over year to 78%. This marks a great start to the year, along with a 160 bps year-over-year increase to 77.9% in the first quarter.
Brookdale Senior Living has witnessed 31 straight months of year-over-year increases in weighted average occupancy. This suggests that the company is witnessing continuous growth in occupancy rates, which is likely to lead to higher resident fee revenues. This favorable trend is expected to continue going forward, further bolstering the company's overall performance, as the portion of the senior population is expected to grow.
In the first quarter of 2024, BKD’s resident fee revenues witnessed 4.3% year-over-year growth to $744.2 million. Its RevPAR (revenue per available unit) and Adjusted EBITDA grew 6.7% and 10.1% year-over-year, respectively, in the March quarter. According to the company’s earlier guidance, second quarter 2024 RevPAR year-over-year growth was expected within 6.25-6.75%. Also, adjusted EBITDA was expected to be within the $93-$98 million range.
The RevPAR and occupancy growth are likely to have boosted its results. The Zacks Consensus Estimate for the second-quarter 2024 bottom line signals a 13.3% improvement from the year-ago figure. Notably, it beat earnings estimates in two of the last four quarters and missed on the other occasions. This is depicted in the figure below.
Brookdale Senior Living Inc. Price and EPS Surprise
Brookdale Senior Living Inc. price-eps-surprise | Brookdale Senior Living Inc. Quote
Zacks Rank & Other Stocks to Consider
Brookdale Senior Living currently carries a Zacks Rank #2 (Buy).
Investors interested in the broader Medical space may look at some other top-ranked players like Sera Prognostics, Inc. (SERA - Free Report) , HealthEquity, Inc. (HQY - Free Report) and Aura Biosciences, Inc. (AURA - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Sera Prognostics’ 2024 bottom line suggests a 19% year-over-year improvement. SERA‘s average earnings surprise for the past four quarters is at 3.7%. The consensus mark for its current-year revenues indicates a 14.4% year-over-year increase.
The Zacks Consensus Estimate for HealthEquity’s current-year earnings implies a 30.2% increase from the year-ago reported figure. HQY beat earnings estimates in each of the last four quarters, with an average surprise of 17.2%. The consensus mark for its current-year revenues is pegged at almost $1.2 billion, which indicates a 16.3% year-over-year increase.
The Zacks Consensus Estimate for Aura Biosciences’ current-year earnings suggests a 6.7% year-over-year improvement. It has witnessed two upward estimate revisions over the past 60 days against no movement in the opposite direction. AURA beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 1.6%.