48 days have passed by since the last earnings report for Camden Property Trust (NYSE:CPT) and the new quarterly results look set to arrive in 43 days. The shares of CPT at the moment are trading at a volume of 0.42 million, which compares with its normal daily standard volume of 486384 shares. This has led to the shares of the company declining by -0.42%, currently exchanging hands at $109.88 a share. CPT stock has been up by $1.12 (-1.01%) ever since it reached its 52-week high of $111 back in September 06, 2019. It has progressed above its 50-day moving average of $106.49 and is up 0.94% over the past week. The stock has added 3.1% since the last one arrived so the question here is that will the upbeat trend in that time frame continue leading up to its next earnings release, or is the CPT share price due for a correction?
Camden Property Trust (CPT) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Thursday, Oct 24, 2019, 7 analysts who are covering the company are estimating that it will record a profit of $0.44 per share, with analysts having different outlooks from $0.4 to $0.46. The current agreed outlook, when compared to the profit recorded last year, is at $0.4 a share, thus an increase of 10% is expected. The profit view for a complete financial year for Camden Property Trust is expected to be around $1.72 in current year, a decline of nearly 5.52% from last year which was $1.63.
Analyzing The Earnings History Of Camden Property Trust (NYSE:CPT)
In the past few years, the CPT stock has been known to miss the Wall Street’s earnings projection. The company missed 91% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 1 times. Looking at the past trend, the price of Camden Property Trust shares had risen following the release of their earnings in 21 of the last 38 quarters.
Looking back, here is how Camden Property Trust (CPT) stock reacted to earnings misses and beats. It gave investors reason to be bearish with the price going down after 3 of the last four earnings reports. The shares of Camden Property Trust recorded -1.58%, 0.85%, -0.27% and -3.84%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -3.74%, -0.13%, 2.27% and -3.95%. Their post-earnings price movements have resulted in an average decrease of -1.21% and an average decrease of -1.39% in Camden Property Trust on next day and 7th day, sequentially. CPT’s one month stock performance led to its shares rising by 3.88% with a return of 16.91% witnessed over the last 52 weeks.
Camden Property Trust (CPT) Post Earnings Announcement Drift (PEAD)
Back on July 25, 2019, Camden Property Trust (NYSE:CPT) released its Q2 results, in which it recorded EPS of $0.43 that fell short of consensus estimates of $0.45. After the earnings were reported, the price of CPT stock kicked off the session at $105.35 and remained in a range of $105.77 to $108.43 on the first day. The shares were priced at $105.91 at the close with a total volume of shares being 734773.
On May 02, 2019, the Q1 earnings report was disclosed with EPS of $0.4. This was below the estimation of $0.42 per share. The stock price range of CPT was between $102.03 and $104.16 on the first-day post announcement, after opening the day at $99.46. The session came to close at $100.83 and there was a total volume of 439219 shares.
January 31, 2019 was the day when its Q4 results were unveiled. The earnings came in at $0.41, missing the projected $0.44 per share. The very next day, CPT stock opened at $95.09 while staying in a range of $97.86 to $98.93. At the end, it moved to $96.69 a total volume of shares been 891822.
In the year-ago Q3 earnings on October 25, 2018, the company saw profit per share of $0.4. That was worse than the $0.42 analysts had expected. Camden Property Trust share price started at $90.09 on the first full trading day post-earning and then exchanged hands between $94.8 and $94.8 throughout the session. The closing price of $90.36 came on the back of 973567 shares in volume.