We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Brookdale Senior (BKD) February Weighted Average Occupancy Up
Read MoreHide Full Article
Brookdale Senior Living Inc. (BKD - Free Report) recently announced that its February weighted average occupancy climbed 300 basis points from the year-ago level to 76.3%. Considering the January weighted average occupancy level of 76.6%, which jumped 320 basis points, it is safe to say that the company has witnessed a favorable start this year.
The momentum is likely to continue in the coming days and buoy its results. So far, the company is well above the first-quarter 2022 weighted average occupancy of 73.4%.
Brookdale Senior Living has witnessed 16 straight months of year-over-year increases in weighted average occupancy. This highlights the company’s ongoing improvement in occupancy levels, which will likely translate to increased resident fee revenues.
The company’s 2022 resident fee revenues witnessed 1.6% year-over-year growth to $2,585.5 million. The Zacks Consensus Estimate for 2023 total revenues is pegged at above $3 billion, indicating 7.6% growth from the 2022 level.
However, the weighted average occupancy for the quarter-to-date period declined some 70 basis points from fourth-quarter levels, which is in line with the pre-pandemic seasonality. This might suggest that the industry is looking beyond the pandemic blues and it is getting back to its normal shape.
The continued increased occupancy levels are expected to bring higher maintenance, food costs and labor expenses for BKD amid the ongoing inflationary pressures, which can weigh on the margins. The Zacks Consensus Estimate for the 2023 bottom line is pegged at a loss of $1.17 per share. Nevertheless, the estimate indicates an improvement of 6.4% from the year-ago loss of $1.25 per share.
Price Performance
Brookdale Senior Living shares have gained 16.1% in the year-to-date period against the industry’s fall of 3.9%.
The Zacks Consensus Estimate for Avanos Medical’s 2023 earnings predicts 1.8% year-over-year growth. AVNS beat earnings estimates in all the past four quarters, with the average being 11%.
The consensus mark for Viemed’s 2023 earnings indicates an 87.5% year-over-year increase. Furthermore, the consensus estimate for VMD’s revenues in 2023 suggests 15% year-over-year growth.
The Zacks Consensus Estimate for BioLife Solutions’ 2023 earnings suggests 84.2% year-over-year growth. Also, the consensus mark for BLFS’ 2023 revenues suggests 20.7% year-over-year growth.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Brookdale Senior (BKD) February Weighted Average Occupancy Up
Brookdale Senior Living Inc. (BKD - Free Report) recently announced that its February weighted average occupancy climbed 300 basis points from the year-ago level to 76.3%. Considering the January weighted average occupancy level of 76.6%, which jumped 320 basis points, it is safe to say that the company has witnessed a favorable start this year.
The momentum is likely to continue in the coming days and buoy its results. So far, the company is well above the first-quarter 2022 weighted average occupancy of 73.4%.
Brookdale Senior Living has witnessed 16 straight months of year-over-year increases in weighted average occupancy. This highlights the company’s ongoing improvement in occupancy levels, which will likely translate to increased resident fee revenues.
The company’s 2022 resident fee revenues witnessed 1.6% year-over-year growth to $2,585.5 million. The Zacks Consensus Estimate for 2023 total revenues is pegged at above $3 billion, indicating 7.6% growth from the 2022 level.
However, the weighted average occupancy for the quarter-to-date period declined some 70 basis points from fourth-quarter levels, which is in line with the pre-pandemic seasonality. This might suggest that the industry is looking beyond the pandemic blues and it is getting back to its normal shape.
The continued increased occupancy levels are expected to bring higher maintenance, food costs and labor expenses for BKD amid the ongoing inflationary pressures, which can weigh on the margins. The Zacks Consensus Estimate for the 2023 bottom line is pegged at a loss of $1.17 per share. Nevertheless, the estimate indicates an improvement of 6.4% from the year-ago loss of $1.25 per share.
Price Performance
Brookdale Senior Living shares have gained 16.1% in the year-to-date period against the industry’s fall of 3.9%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Brookdale Senior Living currently carries a Zacks Rank #3 (Hold). Investors interested in the broader medical space may look at players like Avanos Medical, Inc. (AVNS - Free Report) , Viemed Healthcare, Inc. (VMD - Free Report) and BioLife Solutions, Inc. (BLFS - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Avanos Medical’s 2023 earnings predicts 1.8% year-over-year growth. AVNS beat earnings estimates in all the past four quarters, with the average being 11%.
The consensus mark for Viemed’s 2023 earnings indicates an 87.5% year-over-year increase. Furthermore, the consensus estimate for VMD’s revenues in 2023 suggests 15% year-over-year growth.
The Zacks Consensus Estimate for BioLife Solutions’ 2023 earnings suggests 84.2% year-over-year growth. Also, the consensus mark for BLFS’ 2023 revenues suggests 20.7% year-over-year growth.