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Vornado (VNO) to Report Q1 Earnings: What's in the Cards?
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Real estate investment trust (REIT) Vornado Realty Trust (VNO - Free Report) is expected to report first-quarter 2017 results on May 1, after market close.
In the last three months, the shares of the company lost 6.6%. Also, its first-quarter 2017 funds from operations (FFO) per share estimate declined 0.8% to $1.26 in the last seven days.
Last quarter, Vornado reported a negative surprise of 13.74%. In fact, in the trailing four quarters, the company missed estimates on all occasions. The average negative surprise for the last four quarters was 8.27%.
Let’s see how things have shaped up for this announcement.
Factors to Consider
Vornado’s Class A office properties, situated in a few select high barrier-to-entry geographic markets offer the company huge growth prospects.
The company, focused on improving its core business, is making opportunistic acquisitions and divestitures in addition to business spin-offs. In fact, strategic sell-outs provide the company with dry powder to reinvest in opportunistic acquisitions.
Though such repositioning efforts to streamline its business are commendable, the earnings dilutive effects of these moves cannot be denied.
Earnings Whispers
Our proven model does not conclusively show that Vornado will beat on earnings this season. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. However, that is not the case here as you will see below.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate currently stand at $1.26, which translates into an Earnings ESP of 0.00%.
Zacks Rank: Vornado’s Zacks Rank #3, when combined with a 0.00% Earnings ESP makes surprise prediction difficult.
Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is witnessing negative estimate revisions.
Stocks That Warrant a Look
Here are a few stocks in the REIT sector that you may want to consider, as our model shows that they have the right combination of elements to post an earnings beat this quarter.
STORE Capital Corporation , expected to release first-quarter results on May 4, has an Earnings ESP of +2.44% and a Zacks Rank #3.
Hudson Pacific Properties, Inc. (HPP - Free Report) , slated to release first-quarter results on May 4, has an Earnings ESP of +2.08% and a Zacks Rank #3.
Note: All EPS numbers presented in this write up represent funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Vornado (VNO) to Report Q1 Earnings: What's in the Cards?
Real estate investment trust (REIT) Vornado Realty Trust (VNO - Free Report) is expected to report first-quarter 2017 results on May 1, after market close.
In the last three months, the shares of the company lost 6.6%. Also, its first-quarter 2017 funds from operations (FFO) per share estimate declined 0.8% to $1.26 in the last seven days.
Last quarter, Vornado reported a negative surprise of 13.74%. In fact, in the trailing four quarters, the company missed estimates on all occasions. The average negative surprise for the last four quarters was 8.27%.
Vornado Realty Trust Price and EPS Surprise
Vornado Realty Trust Price and EPS Surprise | Vornado Realty Trust Quote
Let’s see how things have shaped up for this announcement.
Factors to Consider
Vornado’s Class A office properties, situated in a few select high barrier-to-entry geographic markets offer the company huge growth prospects.
The company, focused on improving its core business, is making opportunistic acquisitions and divestitures in addition to business spin-offs. In fact, strategic sell-outs provide the company with dry powder to reinvest in opportunistic acquisitions.
Though such repositioning efforts to streamline its business are commendable, the earnings dilutive effects of these moves cannot be denied.
Earnings Whispers
Our proven model does not conclusively show that Vornado will beat on earnings this season. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. However, that is not the case here as you will see below.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate currently stand at $1.26, which translates into an Earnings ESP of 0.00%.
Zacks Rank: Vornado’s Zacks Rank #3, when combined with a 0.00% Earnings ESP makes surprise prediction difficult.
Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is witnessing negative estimate revisions.
Stocks That Warrant a Look
Here are a few stocks in the REIT sector that you may want to consider, as our model shows that they have the right combination of elements to post an earnings beat this quarter.
EPR Properties (EPR - Free Report) , expected to release earnings on May 2, has an Earnings ESP of +0.84% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
STORE Capital Corporation , expected to release first-quarter results on May 4, has an Earnings ESP of +2.44% and a Zacks Rank #3.
Hudson Pacific Properties, Inc. (HPP - Free Report) , slated to release first-quarter results on May 4, has an Earnings ESP of +2.08% and a Zacks Rank #3.
Note: All EPS numbers presented in this write up represent funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information >>