In its upcoming report, Agree Realty (ADC) is predicted by Wall Street analysts to post quarterly earnings of $1.03 per share, reflecting an increase of 3% compared to the same period last year. Revenues are forecasted to be $159.53 million, representing a year-over-year increase of 10.7%.
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 indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Agree Realty metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Revenues- Rental income' at $156.28 million. The estimate indicates a year-over-year change of +8.4%.
According to the collective judgment of analysts, 'Revenues- Rental income- Operating cost reimbursement' should come in at $16.35 million. The estimate indicates a year-over-year change of +7.9%.
Analysts expect 'Depreciation and amortization' to come in at $54.44 million. The estimate is in contrast to the year-ago figure of $47.26 million.
View all Key Company Metrics for Agree Realty here>>>
Agree Realty shares have witnessed a change of +4.6% in the past month, in contrast to the Zacks S&P 500 composite's +2.1% move. With a Zacks Rank #3 (Hold), ADC 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 >>>>
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 +24.3% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>Agree Realty Corporation (ADC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
