Wall Street analysts forecast that Piedmont Office (PDM) will report quarterly earnings of $0.37 per share in its upcoming release, pointing to a year-over-year decline of 9.8%. It is anticipated that revenues will amount to $142.16 million, exhibiting a decline of 2.2% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 2.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
Given this perspective, it's time to examine the average forecasts of specific Piedmont Office metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Rental and Tenant Reimbursement Revenue- Fixed payments' will reach $112.16 million. The estimate indicates a change of -1.9% from the prior-year quarter.
Analysts' assessment points toward 'Rental and Tenant Reimbursement Revenue- Variable payments' reaching $23.86 million. The estimate points to a change of -4.9% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenues- Other property related income' should come in at $5.46 million. The estimate indicates a year-over-year change of -0.6%.
The average prediction of analysts places 'Revenues- Rental and tenant reimbursement revenue' at $136.01 million. The estimate points to a change of -2.5% from the year-ago quarter.
Analysts expect 'Amortization' to come in at $17.07 million. The estimate is in contrast to the year-ago figure of $24.23 million.
The consensus among analysts is that 'Depreciation' will reach $36.70 million. The estimate compares to the year-ago value of $38.04 million.
View all Key Company Metrics for Piedmont Office here>>>
Over the past month, shares of Piedmont Office have returned -2.7% versus the Zacks S&P 500 composite's +4.2% change. Currently, PDM carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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