Yahoo Finance One Liberty Properties, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
Investors in One Liberty Properties, Inc. (NYSE:OLP) had a good week, as its shares rose 3.6% to close at US$23.99 following the release of its first-quarter results. Revenues were US$22m, approximately in line with whatthe analysts expected, although statutory earnings per share (EPS) crushed expectations, coming in at US$0.23, an impressive 77% ahead of estimates. 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. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
View our latest analysis for One Liberty Properties
Taking into account the latest results, One Liberty Properties' dual analysts currently expect revenues in 2024 to be US$90.4m, approximately in line with the last 12 months. Statutory earnings per share are expected to crater 59% to US$0.54 in the same period. Before this earnings report, the analysts had been forecasting revenues of US$89.3m and earnings per share (EPS) of US$0.55 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.
The analysts reconfirmed their price target of US$24.75, showing that the business is executing well and in line with expectations.
Of course, another way to look at these forecasts is to place them into context against the industry itself. It's pretty clear that there is an expectation that One Liberty Properties' revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 1.7% growth on an annualised basis. This is compared to a historical growth rate of 2.8% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 2.4% per year. Factoring in the forecast slowdown in growth, it seems obvious that One Liberty Properties is also expected to grow slower than other industry participants.
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. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that One Liberty Properties' revenue is expected to perform worse than the wider industry. The consensus price target held steady at US$24.75, with the latest estimates not enough to have an impact on their price targets.
With that in mind, we wouldn't be too quick to come to a conclusion on One Liberty Properties. Long-term earnings power is much more important than next year's profits. We have analyst estimates for One Liberty Properties going out as far as 2025, and you can see them free on our platform here.
We don't want to rain on the parade too much, but we did also find 3 warning signs for One Liberty Properties (2 don't sit too well with us!) that you need to be mindful 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.
