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Insights Into SL Green (SLG) Q2: Wall Street Projections for Key Metrics
In its upcoming report, SL Green (SLG - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.58 per share, reflecting an increase of 10.5% compared to the same period last year. Revenues are forecasted to be $131.81 million, representing a year-over-year decrease of 20.4%.
The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
Bearing this in mind, let's now explore the average estimates of specific SL Green metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Revenues- Rental revenue, net' stands at $144.65 million. The estimate indicates a year-over-year change of -12.7%.
The combined assessment of analysts suggests that 'Revenues- Investment income' will likely reach $9.96 million. The estimate suggests a change of +9.4% year over year.
Analysts forecast 'Revenues- Other income' to reach $21.82 million. The estimate suggests a change of -16.2% year over year.
The average prediction of analysts places 'Depreciation and amortization' at $49.11 million. Compared to the present estimate, the company reported $69.08 million in the same quarter last year.
View all Key Company Metrics for SL Green here>>>
SL Green shares have witnessed a change of +7.2% in the past month, in contrast to the Zacks S&P 500 composite's +4.3% move. With a Zacks Rank #3 (Hold), SLG 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 >>>>