Carey is trading at a premium to the group. For comparison, its industry has an average Forward P/E of 10.93, which means W.P. Carey currently has a Forward P/E ratio of 13.69. Carey is currently a Zacks Rank #4 (Sell).ĭigging into valuation, W.P. The Zacks Consensus EPS estimate has moved 0.39% higher within the past month. It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. These revisions help to show the ever-changing nature of near-term business trends. It is also important to note the recent changes to analyst estimates for W.P. Our most recent consensus estimate is calling for quarterly revenue of $419.82 million, up 20.49% from the year-ago period.įor the full year, our Zacks Consensus Estimates are projecting earnings of $5.34 per share and revenue of $1.75 billion, which would represent changes of +0.95% and +18.01%, respectively, from the prior year. The company is expected to report EPS of $1.32, down 2.22% from the prior-year quarter. Carey as it approaches its next earnings release, which is expected to be April 28, 2023. Investors will be hoping for strength from W.P. Carey, NYSE: WPC) reported today that its Board of Directors increased its quarterly cash dividend to 1.069 per share, equivalent. This has lagged the Finance sector's gain of 3.03% and the S&P 500's gain of 3.31% in that time. Prior to today's trading, shares of the real estate investment trust had lost 5.38% over the past month. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 4.87%. This change lagged the S&P 500's 0.09% gain on the day. Carey (WPC) closed the most recent trading day at $73.05, moving -0.07% from the previous trading session. A journey that starts with stopping today. On the other hand, that appears to have rarely been more true than it will be for the Fed's next 18 months of policy moves. On the one hand, inflation always tells you what the Fed needs to do next. Fed officials think PCE inflation will slow to 3.2% at the end of this year and 2.5% by the end of next year in April, PCE inflation stood at 4.4%. Meaning that the fed funds rate - which stands in a range of 5%-5.25% - will be 2 percentage points above the level of inflation. Even two strong jobs reports a stronger-than-expected inflation reading in April were not going to knock the Fed off its course for June.īut updated economic projections released Wednesday allowed the Fed to have it both ways - pause rate hikes and also be more aggressive in signaling future action.ĭutta adds that in 2024, real interest rates are likely to stay at 2%. In an email sent shortly after the news crossed, Neil Dutta, an economist at Renaissance Macro, wrote, "This is what the Fed had to do."ĭutta's view? The groundwork during Fed Chair Jay Powell's press conference on May 3 and speeches from many Fed officials in the weeks that followed was laid for a pause in rate hikes. SAN FRANCISCO (Reuters) - Electric vehicle maker Rivian said it has agreed to adopt Tesla's charging standard, giving customers access to the biggest U.S. The Federal Reserve held interest rates steady on Wednesday while forecasting the need to take further action raising rates later this year.
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