Alexander & Baldwin (NYSE:ALEX) Issues FY 2024 Earnings Guidance

Alexander & Baldwin (NYSE:ALEX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.890-1.000 for the period, compared to the consensus earnings per share estimate of 1.020. The company issued revenue guidance of -.

Alexander & Baldwin Stock Performance

Shares of ALEX traded down $0.17 on Thursday, reaching $15.83. 231,566 shares of the company’s stock traded hands, compared to its average volume of 314,200. The stock’s 50 day simple moving average is $16.41 and its two-hundred day simple moving average is $16.97. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $19.99. The stock has a market cap of $1.15 billion, a PE ratio of 39.99 and a beta of 1.21.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.62%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, March 14th. Alexander & Baldwin’s payout ratio is presently 222.50%.

Wall Street Analyst Weigh In

ALEX has been the subject of several research reports. Piper Sandler reduced their price target on shares of Alexander & Baldwin from $19.00 to $17.00 and set a neutral rating for the company in a research report on Thursday, March 14th. TheStreet downgraded shares of Alexander & Baldwin from a b- rating to a c+ rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $18.50.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.