Equity Commonwealth (NYSE:EQC) finished Thursday with a subtraction of -$0.12 to close at $19.26, a downside of -0.62 percent. An average of 1,193,520 shares of common stock have been traded in the last five days. There was a fall of -$0.25 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 955,675 shares traded, while the 50-day average volume stands at 893,622.
EQC stock has decreased by -5.50% in the last month. The company shares reached their 1-month lowest point of $19.17 on 08/07/23. With the stock rallying to its 52-week high on 02/14/23, shares of the company touched a low of $19.17 and a high of $22.89 in 52 weeks. It has reached a new high 4 times so far this year and lost -7.72% or -$5.71 in price. In spite of this, the price is down -15.87% from the 52-week high.
Insider Transactions
EQC stock investors should be aware that Equity Commonwealth (EQC) stock had its last reported insider trading activity 1 day ago on Aug 10. In this transaction, the insider spent $963,000. EVP, Gen. Counsel & Secretary, Shifrin Orrin S, disposed of 50,000 shares at a price of $26.95 on Sep 20. The insider now owns more than $1,347,500 worth of shares.
Valuation Metrics
Equity Commonwealth (EQC) has a trailing price-to-earnings (P/E) ratio of 33.79. The stock’s beta is 0.29. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 34.91, the price-to-book (PB) ratio at 0.93.
Financial Health
Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending September 29. Its gross profit as reported stood at -$9.23 million compared to revenue of $63.14 million.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $13.79 million in the quarter, while revenues were grew 105.08%. The analyst consensus anticipated Equity Commonwealth’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be -$0.04, a -33.30% surprise. For the quarter, EBITDA amounted to -$6.21 million. Shareholders own equity worth $109.73 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Equity Commonwealth (EQC) price momentum. RSI 9-day as of the close on 10 August was 24.62%, suggesting the stock is oversold, with historical volatility in this time frame at 12.09%.
As of today, EQC’s price is $19.38 -1.28% or -$0.25 from its 5-day moving average. EQC is currently trading -6.14% lower than its 20-day SMA and -1.58% lower than its 100-day SMA. However, the stock’s current price level is -6.00% below the SMA50 and -24.29% below the SMA200.
The stochastic %K and %D were 12.28% and 14.86%, respectively, and the average true range (ATR) was 0.31. With the 14-day stochastic at 5.71% and the average true range at 0.31, the RSI (14) stands at 29.12%. The stock has reached -0.11 on the 9-day MACD Oscillator while the 14-day reading was at -0.41.
Analyst Ratings
BofA Securities downgraded Equity Commonwealth (NYSE: EQC) to a an Underperform rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Equity Commonwealth (EQC) among analysts is Underweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell EQC, while 1 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is EQC’s price target for the next 12 months?
Analysts predict a range of price targets between $20.00 and $22.00, with a median target of $21.00. Taking a look at these predictions, the average price target given by analysts for Equity Commonwealth (EQC) stock is $21.00.
