Yahoo Finance Stay Ahead of the Game With Extra Space Storage (EXR) Q1 Earnings: Wall Street's Insights on Key Metrics
Analysts on Wall Street project that Extra Space Storage (EXR) will announce quarterly earnings of $1.95 per share in its forthcoming report, representing a decline of 3.5% year over year. Revenues are projected to reach $786.47 million, increasing 56.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during 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 Extra Space Storage metrics that are commonly tracked and forecasted by Wall Street analysts.
The combined assessment of analysts suggests that 'Property rental' will likely reach $682.18 million. The estimate indicates a change of +57.2% from the prior-year quarter.
Based on the collective assessment of analysts, 'Tenant insurance' should arrive at $76.74 million. The estimate indicates a change of +60.9% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Management and franchise fees' of $29.11 million. The estimate indicates a change of +36.1% from the prior-year quarter.
According to the collective judgment of analysts, 'Same-store square foot occupancy' should come in at 93.3%. The estimate compares to the year-ago value of 93.5%.
The consensus among analysts is that 'Depreciation and amortization' will reach $192.32 million. Compared to the present estimate, the company reported $78.49 million in the same quarter last year.
View all Key Company Metrics for Extra Space Storage here>>>
Shares of Extra Space Storage have demonstrated returns of -9.2% over the past month compared to the Zacks S&P 500 composite's -2% change. With a Zacks Rank #4 (Sell), EXR is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Extra Space Storage Inc (EXR) : Free Stock Analysis Report
