Yahoo Finance Essential Properties Realty Trust, Inc. (NYSE:EPRT) First-Quarter Results: Here's What Analysts Are Forecasting For This Year
Investors in Essential Properties Realty Trust, Inc. (NYSE:EPRT) had a good week, as its shares rose 2.3% to close at US$25.73 following the release of its first-quarter results. Results were roughly in line with estimates, with revenues of US$104m and statutory earnings per share of US$0.28. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.
See our latest analysis for Essential Properties Realty Trust
After the latest results, the seven analysts covering Essential Properties Realty Trust are now predicting revenues of US$435.9m in 2024. If met, this would reflect a meaningful 15% improvement in revenue compared to the last 12 months. Per-share earnings are expected to accumulate 3.5% to US$1.15. Before this earnings report, the analysts had been forecasting revenues of US$437.8m and earnings per share (EPS) of US$1.15 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.
It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$28.17. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Essential Properties Realty Trust, with the most bullish analyst valuing it at US$31.00 and the most bearish at US$26.00 per share. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 20% growth on an annualised basis. That is in line with its 24% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 3.2% per year. So it's pretty clear that Essential Properties Realty Trust is forecast to grow substantially faster than its industry.
The Bottom Line
The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Essential Properties Realty Trust going out to 2026, and you can see them free on our platform here.
However, before you get too enthused, we've discovered 3 warning signs for Essential Properties Realty Trust (1 is a bit concerning!) that you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
