- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
Although profit increased, S&P 500 (NYSE:SPY) component Kimco Realty Corporation’s (NYSE:KIM) net income missed the mean analyst estimate. Kimco Realty is a real estate investment trust (REIT) that owns and operates neighborhood and community shopping centers. The company is primarily engaged in acquisitions, development, and management of its properties.
Investing Insights: Is TV the Next Bullish Catalyst for Apple’s Stock?
Kimco Realty Earnings Cheat Sheet for the Second Quarter
Results: Net income for Kimco Realty Corporation rose to $69.1 million (12 cents per share) vs. $38.7 million (6 cents per share) in the same quarter a year earlier. This marks a rise of 78.5% from the year-earlier quarter.
Revenue: Rose 7.1% to $226.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kimco Realty Corporation fell short of the mean analyst estimate of 31 cents per share. Analysts were expecting revenue of $228.2 million.
The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 85.2% and in the fourth quarter of the last fiscal year, the figure rose 25.1%.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of 31 cents versus a mean estimate of net income of 30 cents per share.
Looking Forward: The average estimate for the third quarter is steady at 31 cents a share. The average estimate hasn’t changed from $1.24 per share for the fiscal year.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories:
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.