Some sunshine with a thunderstorm or two possible this afternoon. A few storms may be severe. High 83F. Winds WSW at 10 to 15 mph. Chance of rain 30%..
Tonight
Some clouds this evening will give way to mainly clear skies overnight. Low 62F. Winds NW at 5 to 10 mph.
The upcoming report from Public Storage (PSA) is expected to reveal quarterly earnings of $4.25 per share, indicating a decline of 0.7% compared to the year-ago period. Analysts forecast revenues of $1.21 billion, representing an increase of 1% year over year.
The current level reflects a downward revision of 0.7% 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.
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 usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Public Storage metrics that are commonly tracked and forecasted by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenues- Self-storage facilities' should arrive at $1.14 billion. The estimate indicates a change of +1.8% from the prior-year quarter.
Analysts expect 'Revenues- Ancillary operations' to come in at $90.75 million. The estimate indicates a year-over-year change of +10.1%.
The average prediction of analysts places 'Square foot occupancy' at 92.4%. Compared to the present estimate, the company reported 92.2% in the same quarter last year.
According to the collective judgment of analysts, 'Depreciation and amortization' should come in at $293.81 million.
Shares of Public Storage have experienced a change of -1.8% in the past month compared to the +0.6% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), PSA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.Â
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Keep it Clean. Please avoid obscene, vulgar, lewd,
racist or sexually-oriented language. PLEASE TURN OFF YOUR CAPS LOCK. Don't Threaten. Threats of harming another
person will not be tolerated. Be Truthful. Don't knowingly lie about anyone
or anything. Be Nice. No racism, sexism or any sort of -ism
that is degrading to another person. Be Proactive. Use the 'Report' link on
each comment to let us know of abusive posts. Share with Us. We'd love to hear eyewitness
accounts, the history behind an article.
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.