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Seeking Clues to AvalonBay (AVB) Q4 Earnings? A Peek Into Wall Street Projections for Key Metrics
Wall Street analysts forecast that AvalonBay Communities (AVB - Free Report) will report quarterly earnings of $2.83 per share in its upcoming release, pointing to a year-over-year increase of 3.3%. It is anticipated that revenues will amount to $742.31 million, exhibiting an increase of 5.3% compared to the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific AvalonBay metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Rental and other income' will reach $739.13 million. The estimate points to a change of +5.2% from the year-ago quarter.
The average prediction of analysts places 'Same Store Economic Occupancy' at 95.7%. Compared to the current estimate, the company reported 95.6% in the same quarter of the previous year.
The consensus estimate for 'Depreciation expense' stands at $213.84 million. Compared to the current estimate, the company reported $210.69 million in the same quarter of the previous year.
View all Key Company Metrics for AvalonBay here>>>
AvalonBay shares have witnessed a change of +1.1% in the past month, in contrast to the Zacks S&P 500 composite's +2.7% 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 >>>>