Analysts Expect Equity Commonwealth (NYSE:EQC) to Announce $0.03 Earnings Per Share

Wall Street brokerages predict that Equity Commonwealth (NYSE:EQC) will announce $0.03 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Equity Commonwealth’s earnings. Equity Commonwealth posted earnings of $0.21 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 85.7%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, October 28th.

According to Zacks, analysts expect that Equity Commonwealth will report full year earnings of $0.18 per share for the current year. For the next year, analysts expect that the firm will report earnings of $0.12 per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Equity Commonwealth.

Equity Commonwealth (NYSE:EQC) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.11 by $0.10. Equity Commonwealth had a return on equity of 14.79% and a net margin of 560.80%. The firm had revenue of $16.27 million during the quarter, compared to analysts’ expectations of $18.69 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was down 51.3% on a year-over-year basis.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Equity Commonwealth from a “hold” rating to a “sell” rating in a report on Friday, October 16th. TheStreet cut Equity Commonwealth from a “b-” rating to a “c” rating in a research note on Thursday, July 30th.

Shares of NYSE:EQC traded down $0.17 during midday trading on Friday, hitting $26.53. The company had a trading volume of 22,229 shares, compared to its average volume of 872,921. Equity Commonwealth has a twelve month low of $26.14 and a twelve month high of $35.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 133.84 and a quick ratio of 133.84. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 6.94 and a beta of 0.27. The business’s 50-day simple moving average is $28.85 and its 200-day simple moving average is $31.46.

The company also recently declared a dividend, which was paid on Tuesday, October 20th. Stockholders of record on Thursday, October 1st were given a dividend of $3.50 per share. This is a positive change from Equity Commonwealth’s previous dividend of $2.50. The ex-dividend date of this dividend was Wednesday, September 30th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Equity Commonwealth by 32.9% during the first quarter. Invesco Ltd. now owns 282,992 shares of the real estate investment trust’s stock worth $8,975,000 after buying an additional 70,131 shares during the period. AQR Capital Management LLC boosted its holdings in Equity Commonwealth by 332.3% in the first quarter. AQR Capital Management LLC now owns 106,757 shares of the real estate investment trust’s stock valued at $3,385,000 after purchasing an additional 82,061 shares during the period. Strs Ohio boosted its holdings in Equity Commonwealth by 171.3% in the second quarter. Strs Ohio now owns 74,296 shares of the real estate investment trust’s stock valued at $2,392,000 after purchasing an additional 46,906 shares during the period. Redpoint Investment Management Pty Ltd boosted its holdings in Equity Commonwealth by 20.3% in the third quarter. Redpoint Investment Management Pty Ltd now owns 14,441 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 2,436 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Equity Commonwealth by 77.0% in the second quarter. Nisa Investment Advisors LLC now owns 59,227 shares of the real estate investment trust’s stock valued at $1,907,000 after purchasing an additional 25,770 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.

About Equity Commonwealth

Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. EQC's same property portfolio is comprised of 4 properties and 1.5 million square feet.

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