News

For the quarter ended March 2024, EastGroup Properties (EGP) reported revenue of $154.22 million, up 14.2% over the same period last year. EPS came in at $1.98, compared to $1.02 in the year-ago quarter.

The reported revenue represents a surprise of +1.06% over the Zacks Consensus Estimate of $152.6 million. With the consensus EPS estimate being $2.01, the EPS surprise was -1.49%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how EastGroup Properties performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenues- Income from real estate operations: $154.07 million compared to the $152.01 million average estimate based on six analysts. The reported number represents a change of +15% year over year.
• Revenues- Other revenue: $0.15 million compared to the $0.15 million average estimate based on three analysts.
• Net Earnings Per Share (Diluted): $1.22 compared to the $1.04 average estimate based on five analysts.

View all Key Company Metrics for EastGroup Properties here>>>

Shares of EastGroup Properties have returned -8.8% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Top 5 Dividend Stocks for Your Retirement

Zacks targets 5 well-established companies with solid fundamentals and a history of raising dividends. More importantly, they have the resources and will to likely pay them in the future.

Click now for a Special Report packed with unconventional wisdom and insights you simply won’t get from your neighborhood financial planner.

See our Top 5 now – the report is FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.