$112.93 Million in Sales Expected for Cousins Properties Incorporated (CUZ) This Quarter
Wall Street brokerages expect Cousins Properties Incorporated (NYSE:CUZ) to report $112.93 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Cousins Properties’ earnings, with the highest sales estimate coming in at $114.60 million and the lowest estimate coming in at $110.67 million. Cousins Properties posted sales of $92.62 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.9%. The company is scheduled to issue its next earnings results on Tuesday, November 7th.
On average, analysts expect that Cousins Properties will report full-year sales of $112.93 million for the current fiscal year, with estimates ranging from $448.91 million to $456.28 million. For the next financial year, analysts anticipate that the firm will report sales of $477.06 million per share, with estimates ranging from $466.89 million to $486.56 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cousins Properties.
Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business had revenue of $119.00 million for the quarter, compared to the consensus estimate of $114.68 million. Cousins Properties had a net margin of 49.99% and a return on equity of 9.37%. The company’s revenue was up 146.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share.
A number of equities analysts have recently issued reports on CUZ shares. Zacks Investment Research upgraded Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, July 5th. BidaskClub lowered Cousins Properties from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $10.50 price objective on shares of Cousins Properties in a report on Thursday, September 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.17.
A number of hedge funds and other institutional investors have recently made changes to their positions in CUZ. Schwab Charles Investment Management Inc. increased its holdings in Cousins Properties by 9.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 4,027,914 shares of the real estate investment trust’s stock valued at $35,406,000 after buying an additional 357,889 shares during the last quarter. Prudential Financial Inc. raised its position in Cousins Properties by 1,045.9% in the second quarter. Prudential Financial Inc. now owns 3,407,185 shares of the real estate investment trust’s stock worth $29,949,000 after acquiring an additional 3,109,844 shares during the period. Victory Capital Management Inc. raised its position in Cousins Properties by 18.1% in the second quarter. Victory Capital Management Inc. now owns 3,780,619 shares of the real estate investment trust’s stock worth $33,232,000 after acquiring an additional 580,447 shares during the period. Koch Industries Inc. raised its position in Cousins Properties by 131.1% in the first quarter. Koch Industries Inc. now owns 26,385 shares of the real estate investment trust’s stock worth $218,000 after acquiring an additional 14,968 shares during the period. Finally, State Street Corp raised its position in Cousins Properties by 13.4% in the first quarter. State Street Corp now owns 17,661,570 shares of the real estate investment trust’s stock worth $146,057,000 after acquiring an additional 2,087,693 shares during the period.
Shares of Cousins Properties (CUZ) traded down 0.32% during trading on Thursday, reaching $9.34. 1,803,673 shares of the company’s stock were exchanged. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 14.99 and a beta of 1.06. The stock has a 50-day moving average price of $9.22 and a 200 day moving average price of $8.73. Cousins Properties has a 12 month low of $7.09 and a 12 month high of $10.57.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Monday, October 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, September 29th. Cousins Properties’s dividend payout ratio (DPR) is presently 42.11%.
About Cousins Properties
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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