Apartment Investment & Management
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Apartment Investment & Management missed estimates on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP loss per share dropped.
Margins expanded across the board.
Apartment Investment & Management reported revenue of $263.0 million. The seven analysts polled by S&P Capital IQ expected to see a top line of $268.5 million on the same basis. GAAP reported sales were 2.3% higher than the prior-year quarter's $266.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at -$0.31. The three earnings estimates compiled by S&P Capital IQ averaged -$0.33 per share on the same basis. GAAP EPS were -$0.06 for Q4 against -$0.33 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 59.4%, 360 basis points better than the prior-year quarter. Operating margin was 16.1%, 750 basis points better than the prior-year quarter. Net margin was -4.7%, 330 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $272.7 million. On the bottom line, the average EPS estimate is -$0.36.
Next year's average estimate for revenue is $1.10 billion. The average EPS estimate is -$1.12.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 123 members out of 295 rating the stock outperform, and 172 members rating it underperform. Among 107 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 53 give Apartment Investment & Management a green thumbs-up, and 54 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Apartment Investment & Management is hold, with an average price target of $25.34.
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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.
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