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Public Storage Third Quarter Earnings Preview
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PSA
When Public Storage (NYSE:PSA) releases its third quarter earnings on Thursday, November 8, 2012, it is expected to report earnings that are up 20.9% from a year ago. The consensus estimate is $1.68 per share, up from earnings of $1.39 per share a year ago.
Investors care about earnings because they drive stock prices. Strong earnings generally result in the stock price moving up and vice versa. SEE: Everything Investors Need To Know About Earnings
What to Expect: For the fiscal year, analysts are projecting earnings of $6.21 per share.
Revenue for the quarter is expected to be $435 million, short of last year's reported figure of $445 million by 2.2%. The anticipated revenue for the fiscal year is $1.71 billion.
Company Performance: The last four quarters have shown average revenue year-over-year decline of 1.1%. The third quarter of the last fiscal year marked the biggest decline of 8.7% from the year-earlier quarter.
PSA has a P/E ratio of 44.5. A company's price/earnings ratio (P/E ratio) provides a measure of how expensive or cheap a stock is. High P/E stocks could be "growth" stocks, while low PE stocks may be "value" stocks. SEE: Investment Valuation Ratios: Price/Earnings Ratio
Since August 7, 2012, the stock price has dipped 3.6% to $140.30 from $145.53. Public Storage's worst recent stretch was when its stock price fell $6.72 per share between September 14, 2012 and September 20, 2012.
The Competition: Public Storage is a real estate investment trust (REIT) with a focus on the acquisition, development, ownership, and operation of self-storage facilities. Analysts generally consider Public Storage a hold, with 11 of 18 analysts rating it as such. Opinion about the stock has worsened recently, as buy ratings have dropped slightly over the last three months.
The company's closest competitor in the real estate operations industry is Extra Space (EXR). Analysts are less optimistic about Public Storage than about Extra Space. Four out of 12 analysts rate the latter a buy compared to four of 18 for the former.
Investors care about earnings because they drive stock prices. Strong earnings generally result in the stock price moving up and vice versa. SEE: Everything Investors Need To Know About Earnings
What to Expect: For the fiscal year, analysts are projecting earnings of $6.21 per share.
Revenue for the quarter is expected to be $435 million, short of last year's reported figure of $445 million by 2.2%. The anticipated revenue for the fiscal year is $1.71 billion.
Company Performance: The last four quarters have shown average revenue year-over-year decline of 1.1%. The third quarter of the last fiscal year marked the biggest decline of 8.7% from the year-earlier quarter.
Since August 7, 2012, the stock price has dipped 3.6% to $140.30 from $145.53. Public Storage's worst recent stretch was when its stock price fell $6.72 per share between September 14, 2012 and September 20, 2012.
The Competition: Public Storage is a real estate investment trust (REIT) with a focus on the acquisition, development, ownership, and operation of self-storage facilities. Analysts generally consider Public Storage a hold, with 11 of 18 analysts rating it as such. Opinion about the stock has worsened recently, as buy ratings have dropped slightly over the last three months.
The company's closest competitor in the real estate operations industry is Extra Space (EXR). Analysts are less optimistic about Public Storage than about Extra Space. Four out of 12 analysts rate the latter a buy compared to four of 18 for the former.
by
Investopedia Staff
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