$109.60 Million in Sales Expected for Cousins Properties Inc (CUZ) This Quarter
Equities research analysts expect that Cousins Properties Inc (NYSE:CUZ) will report $109.60 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cousins Properties’ earnings. The lowest sales estimate is $105.80 million and the highest is $111.72 million. Cousins Properties posted sales of $111.43 million during the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The company is expected to announce its next earnings report after the market closes on Wednesday, February 7th.
According to Zacks, analysts expect that Cousins Properties will report full year sales of $109.60 million for the current fiscal year, with estimates ranging from $441.90 million to $448.91 million. For the next year, analysts forecast that the company will post sales of $460.28 million per share, with estimates ranging from $446.91 million to $486.56 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Cousins Properties.
Cousins Properties (NYSE:CUZ) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.12). The company had revenue of $113.20 million for the quarter, compared to analysts’ expectations of $113.51 million. Cousins Properties had a net margin of 48.08% and a return on equity of 8.39%. The firm’s quarterly revenue was up 132.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS.
CUZ has been the subject of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $10.50 target price on shares of Cousins Properties in a report on Thursday, September 21st. Zacks Investment Research downgraded Cousins Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Bank of America lifted their price target on Cousins Properties from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, October 3rd. ValuEngine upgraded Cousins Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, October 10th. Finally, SunTrust Banks reiterated a “buy” rating and set a $10.00 price target on shares of Cousins Properties in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $10.10.
Cousins Properties (CUZ) traded down $0.08 during mid-day trading on Tuesday, reaching $9.00. The company’s stock had a trading volume of 1,297,300 shares, compared to its average volume of 3,251,733. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3,780.19, a price-to-earnings ratio of 16.67 and a beta of 1.09. Cousins Properties has a 1-year low of $7.81 and a 1-year high of $9.63.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were given a dividend of $0.06 per share. The ex-dividend date was Friday, December 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.67%. Cousins Properties’s dividend payout ratio (DPR) is presently 44.44%.
In other news, insider S Taylor Glover sold 74,351 shares of Cousins Properties stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $9.41, for a total transaction of $699,642.91. Following the completion of the sale, the insider now owns 485,284 shares in the company, valued at approximately $4,566,522.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.14% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Cousins Properties by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 66,349,682 shares of the real estate investment trust’s stock worth $583,214,000 after buying an additional 474,225 shares during the last quarter. BlackRock Inc. lifted its position in Cousins Properties by 7.1% in the 2nd quarter. BlackRock Inc. now owns 54,000,967 shares of the real estate investment trust’s stock worth $474,666,000 after buying an additional 3,602,825 shares during the last quarter. State Street Corp lifted its position in Cousins Properties by 7.2% in the 2nd quarter. State Street Corp now owns 18,932,900 shares of the real estate investment trust’s stock worth $166,419,000 after buying an additional 1,271,330 shares during the last quarter. Northern Trust Corp lifted its position in Cousins Properties by 15.7% in the 2nd quarter. Northern Trust Corp now owns 10,382,467 shares of the real estate investment trust’s stock worth $91,262,000 after buying an additional 1,411,479 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in Cousins Properties by 1.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 5,864,576 shares of the real estate investment trust’s stock worth $54,775,000 after buying an additional 82,668 shares during the last quarter.
Cousins Properties Company Profile
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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