Yahoo Finance Camden Property Trust Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year
Camden Property Trust (NYSE:CPT) defied analyst predictions to release its annual results, which were ahead of market expectations. The company beat both earnings and revenue forecasts, with revenue of US$1.1b, some 3.4% above estimates, and statutory earnings per share (EPS) coming in at US$2.22, 35% ahead of expectations. Analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether analysts have changed their mind on Camden Property Trust after the latest results.
See our latest analysis for Camden Property Trust
Taking into account the latest results, the most recent consensus for Camden Property Trust from six analysts is for revenues of US$1.09b in 2020, which is a reasonable 2.5% increase on its sales over the past 12 months. Statutory earnings per share are forecast to shrink 9.8% to US$2.01 in the same period. Yet prior to the latest earnings, analysts had been forecasting revenues of US$1.09b and earnings per share (EPS) of US$2.00 in 2020. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
There were no changes to revenue or earnings estimates or the price target of US$119, suggesting that the company has met expectations in its recent result. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Camden Property Trust, with the most bullish analyst valuing it at US$125 and the most bearish at US$113 per share. Still, with such a tight range of estimates, it suggests analysts have a pretty good idea of what they think the company is worth.
In addition, we can look to Camden Property Trust's past performance and see whether business is expected to improve, and if the company is expected to perform better than wider market. It's pretty clear that analysts expect Camden Property Trust's revenue growth will slow down substantially, with revenues next year expected to grow 2.5%, compared to a historical growth rate of 4.6% over the past five years. Compare this against other companies (with analyst forecasts) in the market, which are in aggregate expected to see revenue growth of 5.1% next year. Factoring in the forecast slowdown in growth, it seems obvious that analysts still expect Camden Property Trust to grow slower than the wider market.
The Bottom Line
The most obvious conclusion from these results is that there's been no major change in the business' prospects in recent times, with analysts holding earnings per share steady, in line with previous estimates. On the plus side, there were no major changes to revenue estimates; although analyst forecasts imply revenues will perform worse than the wider market. The consensus price target held steady at US$119, with the latest estimates not enough to have an impact on analysts' estimated valuations.
Even so, the longer term trajectory of the business is much more important for the value creation of shareholders. At Simply Wall St, we have a full range of analyst estimates for Camden Property Trust going out to 2024, and you can see them free on our platform here..
You can also view our analysis of Camden Property Trust's balance sheet, and whether we think Camden Property Trust is carrying too much debt, for free on our platform here.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
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