In This Article:
Analysts on Wall Street project that SL Green (SLG) will announce quarterly earnings of $1.27 per share in its forthcoming report, representing a decline of 58.6% year over year. Revenues are projected to reach $140.66 million, increasing 9.7% from the same quarter last year.
The current level reflects a downward revision of 0.6% 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.
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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain SL Green metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts' assessment points toward 'Revenues- Investment income' reaching $8.44 million. The estimate points to a change of +14% from the year-ago quarter.
It is projected by analysts that the 'Revenues- Rental revenue including Escalation and reimbursement revenues' will reach $157.37 million. The estimate indicates a change of +11.2% from the prior-year quarter.
The consensus estimate for 'Revenues- Other income' stands at $20.73 million. The estimate indicates a year-over-year change of +55%.
According to the collective judgment of analysts, 'Depreciation and amortization' should come in at $52.26 million. Compared to the current estimate, the company reported $48.58 million in the same quarter of the previous year.
View all Key Company Metrics for SL Green here>>>
Shares of SL Green have demonstrated returns of -11.4% over the past month compared to the Zacks S&P 500 composite's -6.1% change. With a Zacks Rank #3 (Hold), SLG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report