Associated Estates Realty
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Associated Estates Realty missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP loss per share expanded.
Gross margins expanded, operating margins improved, net margins dropped.
Associated Estates Realty booked revenue of $42.7 million. The eight analysts polled by S&P Capital IQ wanted to see a top line of $43.8 million. Sales were 6.4% lower than the prior-year quarter's $45.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
EPS came in at -$0.05. The four earnings estimates compiled by S&P Capital IQ predicted -$0.05 per share. GAAP EPS were -$0.05 for Q4 against -$0.03 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 57.3%, 710 basis points better than the prior-year quarter. Operating margin was 15.0%, 130 basis points better than the prior-year quarter. Net margin was -5.2%, 220 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $43.6 million. On the bottom line, the average EPS estimate is -$0.02.
Next year's average estimate for revenue is $180.0 million. The average EPS estimate is -$0.05.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Associated Estates Realty is buy, with an average price target of $19.56.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.