Over the past 52 weeks, the shares of Equity Residential (NYSE:EQR) has been trading as low as $54.97 before witnessing a massive surge by 31.96% or $17.57. This price movement has led to the EQR stock receiving more attention and has become one to watch out for. It dipped by -1.25% on Tuesday and this got the market worried. The stock’s beta now stands at 0.63 and when compared to its 200-day moving average and its 50-day moving average, EQR price stands 9.69% above and 4.52% above respectively. Its average daily volatility for this week is 1.13% which is less than the 1.48% recorded over the past month. The shares of Equity Residential dropped by -1.77% or -$1.31 from its last recorded high of $73.85 which it attained on November 02 to close at $72.54 per share.
Equity Residential (EQR) sank -0.56% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 28.05% and is now up by 9.89% since start of this year. A look at its monthly performance shows that the stock has recorded a 7.39% gain over the past 30 days. Its equity price climbed by 7.79% over the past three months which led to its overall six-month increase to stand at 9.98%.
Experts from research firms are bullish about the near-term performance of Equity Residential with most of them predicting a $70.79 price target on a short-term (12 months) basis. The average price target by the analysts will see a -2.41% rise in the stock and would lead to EQR’s market cap to surge to $26.19B. The stock has been rated an average 2.8, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 23 analysts that track Equity Residential (NYSE:EQR) and find out that 17 of them rated it as a Hold. 4 of the 6 analysts rated it as a Buy or a Strong Buy while 2 advised investors to desist from buying the stock or sell it if they already possess it.
A look at EQR technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 60.08 point. Its trading volume has added 278342 shares compared to readings over the past three months as it recently exchanged 2018342 shares. This means there is improved activity from short-term traders as per session, its average trading volume is 1740000 shares, and this is 1.16 times the normal volume.
The price of Eversource Energy (NYSE:ES) currently stands at $70.28 after it went up by $0.13 or 0.19% and has found a strong support at $69.79 a share. If the ES price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $69.29 mark would also be bad for the stock as it means that the stock would plunge by 1.41% from its current position. However, if the stock price is able to trade above the resistance point around $70.7, then it could likely surge higher to try and break the upward resistance which stands at $71.11 a share. Its average daily volatility over the past one month stands at 1.53%. The stock has plunged by 86.18% from its 52-weeks high of $9.7101 which it reached on Dec. 02, 2019. In general, it is 24.93% above its 52-weeks lowest point which stands at $52.76 and this setback was observed on Nov. 06, 2018.
Analysts have predicted a price target for Eversource Energy (ES) for 1 year and it stands at an average $68.72/share. This means that it would likely increase by -2.22% from its current position. The current price of the stock has been moving between $69.7101 and $70.62. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $62. On the other hand, one analyst is super bullish about the price, setting a target as high as $77.
The ES stock Stochastic Oscillator (%D) is at 93.57%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 2.67 which compares to the 3.27 recorded by the industry or the 2.34 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 20.16, which is lower than the 21.51 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 10.4% over the past five years.
Analysts view Eversource Energy (NYSE:ES) as a Hold, with 2.1 consensus rating. Reuters surveyed 17 analysts that follow ES and found that 6 of those analysts rated the stock as a Hold. The remaining 11 were divided, with 10 analyst rating it as a Buy or a Strong Buy while 1 analysts advised investors to desist from buying Eversource Energy (ES) shares or sell it if they already own it.