Equities analysts forecast that Empire State Realty Trust Inc (NYSE:ESRT) will announce sales of $125.88 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Empire State Realty Trust’s earnings. The highest sales estimate is $128.28 million and the lowest is $123.48 million. Empire State Realty Trust reported sales of $124.04 million during the same quarter last year, which indicates a positive year over year growth rate of 1.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 24th.
On average, analysts expect that Empire State Realty Trust will report full-year sales of $503.65 million for the current financial year, with estimates ranging from $490.81 million to $516.49 million. For the next fiscal year, analysts anticipate that the business will post sales of $514.03 million, with estimates ranging from $491.75 million to $536.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Empire State Realty Trust.
Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $143.40 million during the quarter, compared to analysts’ expectations of $123.77 million. Empire State Realty Trust had a net margin of 10.32% and a return on equity of 3.81%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share.
ESRT has been the subject of several recent research reports. Zacks Investment Research raised Empire State Realty Trust from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Wednesday, April 24th. ValuEngine downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Finally, Citigroup initiated coverage on Empire State Realty Trust in a research note on Thursday, February 28th. They issued a “neutral” rating and a $17.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, Empire State Realty Trust presently has an average rating of “Hold” and a consensus target price of $19.25.
Large investors have recently added to or reduced their stakes in the business. Pearl River Capital LLC bought a new stake in Empire State Realty Trust in the fourth quarter worth $25,000. Quantamental Technologies LLC purchased a new position in shares of Empire State Realty Trust in the 4th quarter valued at $42,000. Marshall Wace North America L.P. purchased a new position in shares of Empire State Realty Trust in the 1st quarter valued at $67,000. Quadrant Capital Group LLC purchased a new position in shares of Empire State Realty Trust in the 1st quarter valued at $80,000. Finally, First Hawaiian Bank purchased a new position in shares of Empire State Realty Trust in the 4th quarter valued at $102,000. 75.43% of the stock is owned by institutional investors and hedge funds.
Shares of ESRT stock traded up $0.16 on Friday, reaching $15.56. The company had a trading volume of 553,525 shares, compared to its average volume of 1,065,254. The stock has a market capitalization of $2.71 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 5.71 and a beta of 0.90. The company has a current ratio of 6.90, a quick ratio of 6.90 and a debt-to-equity ratio of 0.99. Empire State Realty Trust has a one year low of $13.66 and a one year high of $17.86.
About Empire State Realty Trust
Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.
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