Stock Update (NYSE:EQR): Equity Residential Announces Second Quarter 2016 Earnings Release Date

[Business Wire] – Equity Residential today announced that the company will release its second quarter 2016 operating results on Tuesday, July 26, 2016 after the close of market and host a conference call to discuss those results on Wednesday, July 27, 2016 at 10:00 am Central. Read more on this. Equity Residential (EQR) , valued at $25.18B, opened this morning at $68.05. Today’s price range has been between $67.61 and $68.89 per share with a trailing 52-week range being $61.90 to $82.39. Priced at 22.01x this year’s forecasted earnings, EQR shares are relatively expensive compared to the industry’s 21.87x forward p/e ratio. The company pays shareholders $2.02 per share annually in dividends, yielding 3.08%. According to a consensus of 24 analysts, the earnings estimate of $0.78 per share would be $0.07 worse than the year-ago quarter and a $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $3.09, which would be a $0.37 setback when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $609.82 Million. If realized, that would be a 9.86% decrease over the year-ago quarter. In terms of ratings, Jefferies downgraded EQR from Buy to Hold (Jun 8, 2016). Previously, SunTrust upgraded EQR from Neutral to Buy. Investors should keep in mind is that the average price target is $74.25, which is 9.11% above where the stock opened this morning. See more in (NYSE:EQR) Similar Articles: Stock Update: Equity Residential (NYSE:EQR) – Equity Residential to Participate in NAREIT REIT Week 2016 Conference Company Update: Equity Residential (NYSE:EQR) – Equity Residential Lowers 2016 Same Store Revenue and NOI Guidance Ranges Stock Update (NYSE:EQR): Equity Residential Announces First Quarter 2016 Earnings Release Date