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Wednesday, January 27, 2021

Equity Commonwealth (NYSE:EQC) Stock is Soaring, Here is Why

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The Equity Commonwealth (EQC) shares are trading at higher $32.11 and the avg recommendation for the stock is Moderate Buy. The current analyst price target stands at $35.33.

To add more color to this target, the company’s high over the last year is $35.08 and the low is $27.62. Over the last 52 weeks, EQC is down -8.47% while the S&P 500 is up 1.07%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, EQC reported a profit of $-5.66 million. Equity Commonwealth also saw revenues decrease to $18.82 million. In addition, EQC has free cash flow of $11.78 million as of 03-2020 The company’s EBITDA came in at -$0.41 million which compares well with its peers.

EQC Return on Equity (ROE) is 21.10%, and its Return on Assets is 19.30%. All told, it is clear that, EQC needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. EQC has a short ratio of 1.48 and outstanding shares of 122.15M.

Company Outlook

EQC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.96 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 5.54. Investors should also keep an eye on sector updates as EQC has historically followed its peers on positive news.

All told, Equity Commonwealth EQC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, EQC represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Equity Commonwealth EQC is now commanding a market cap of 3.96B and a float of 119.12M. EQC is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of EQC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in EQC, either long or short, and we have not been compensated for this article.

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