Public Storage (NYSE:PSA) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on February 23, 2017. The stock added about 7.3 percent in price since last results when it was at $211.34 a share. Based on the most relevant past-periods data, there is an 57.14 percent probability for this firm’s share price to go down following next quarterly results. Earnings reaction history tells us that the equity price moved down 16 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 50% of the time in its last 12 earnings reports. It fell short of earnings estimates on 4 occasions, and it has met expectations 2 times.
Here’s how traders responded to PSA earnings announcements over the past few quarters.
Public Storage (PSA) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was -1.14 percent over the past four quarters. Back on October 26, 2016, it posted earnings per-share earnings at $2.51 which came in line with the consensus $2.51 projection (no surprise). For the quarter, revenue came in at 623.16M versus consensus estimate of 623.47M. The stock dropped -5.17 percent the session following the earnings reports were released, and on 7th day price change was -3.76 percent.
On July 27, 2016, it reported earnings at $2.34 a share compared with the consensus estimate of $2.38 per share (negative surprise of -1.68%). Revenue of 594.39M for that quarter was below the $607.4M analysts had expected. The stock retreated -3.85% the day following the earnings announcement, and on 7th day price change was -5.94%.
On April 26, 2016, it recorded $2.1 a share in earnings which missed the consensus estimate of $2.19 (negative surprise of -4.11%). Revenue for the quarter was $574.59M while analysts called for revenues to be $585.73M. The stock dropped -3.35% the day following the earnings data was made public, and on 7th day price change was -1.39%.
On February 16, 2016, it announced earnings per share at $2.45 versus the consensus estimate of $2.42 per share (positive surprise of 1.24%). That came on revenues of $572.88M for that period. Analysts had expected $574.93M in revenue.
Public Storage Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $2.43. The analysts’ present consensus range is $2.37-$2.55 for EPS. The market consensus range for revenue is between $605.16M and $655.36M, with an average of $619.24M.
Public Storage (NYSE:PSA) last ended at $225.3, sending the company’s market cap near $39.08B. The consensus 12-month price target from analysts covering the stock is $219.67. The share price has declined -16.79% from its top level in 52 weeks and dropped 0.81% this year. It recently traded in a range of $224.91-$227.43 at a volume of 1166994 shares. The recent trading ended with the price nearly 0.8 higher for the last 5 trading days, rebounding 13.32% from its 52-week low.