![]() There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Carey has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Carey shares have lost about 6% since the beginning of the year versus the S&P 500's gain of 7.7%. ![]() The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call. The company has topped consensus revenue estimates three times over the last four quarters. This compares to year-ago revenues of $348.44 million. Carey, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $427.79 million for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 1.90%. Over the last four quarters, the company has surpassed consensus FFO estimates two times. A quarter ago, it was expected that this real estate investment trust would post FFO of $1.29 per share when it actually produced FFO of $1.29, delivering no surprise. This quarterly report represents an FFO surprise of -0.76%. These figures are adjusted for non-recurring items. This compares to FFO of $1.35 per share a year ago. Carey (WPC) came out with quarterly funds from operations (FFO) of $1.31 per share, missing the Zacks Consensus Estimate of $1.32 per share. Carey is trading at a premium to the group.W.P. For comparison, its industry has an average Forward P/E of 10.93, which means W.P. Carey currently has a Forward P/E ratio of 13.69. Carey is currently a Zacks Rank #4 (Sell).ĭigging into valuation, W.P. The Zacks Consensus EPS estimate has moved 0.39% higher within the past month. It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. These revisions help to show the ever-changing nature of near-term business trends. It is also important to note the recent changes to analyst estimates for W.P. Our most recent consensus estimate is calling for quarterly revenue of $419.82 million, up 20.49% from the year-ago period.įor the full year, our Zacks Consensus Estimates are projecting earnings of $5.34 per share and revenue of $1.75 billion, which would represent changes of +0.95% and +18.01%, respectively, from the prior year. The company is expected to report EPS of $1.32, down 2.22% from the prior-year quarter. Carey as it approaches its next earnings release, which is expected to be April 28, 2023. Investors will be hoping for strength from W.P. This has lagged the Finance sector's gain of 3.03% and the S&P 500's gain of 3.31% in that time. Prior to today's trading, shares of the real estate investment trust had lost 5.38% over the past month. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 4.87%. This change lagged the S&P 500's 0.09% gain on the day. Carey (WPC) closed the most recent trading day at $73.05, moving -0.07% from the previous trading session.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |