LandBridge (NYSE:LB) Posts Earnings Results, Misses Estimates By $0.08 EPS

LandBridge (NYSE:LB) announced its quarterly earnings data on Wednesday. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08), FiscalAI reports. The company had revenue of $70.89 million for the quarter, compared to the consensus estimate of $65.94 million. LandBridge had a net margin of 16.49% and a return on equity of 4.75%. The company’s revenue was up 39.5% on a year-over-year basis.

LandBridge Price Performance

LB traded down $10.51 on Wednesday, hitting $68.47. 1,404,186 shares of the company’s stock traded hands, compared to its average volume of 259,706. The company’s 50 day simple moving average is $83.60 and its 200-day simple moving average is $73.66. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 60.59 and a beta of 0.19. LandBridge has a one year low of $43.75 and a one year high of $91.69. The company has a current ratio of 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.64.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LB shares. Citigroup lifted their price target on shares of LandBridge from $66.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 26th. Piper Sandler increased their price objective on shares of LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Zacks Research downgraded shares of LandBridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Weiss Ratings downgraded shares of LandBridge from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 27th. Finally, Raymond James Financial restated an “outperform” rating and set a $91.00 target price on shares of LandBridge in a research note on Monday, October 19th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $83.00.

LandBridge Company Profile

LandBridge Company (NYSE: LB) is a landowner and infrastructure-focused real estate company serving the energy and industrial sectors. The company owns and manages large tracts of land in the Permian Basin, primarily in West Texas and southeastern New Mexico, one of the leading oil and natural gas producing regions in the United States.

LandBridge generates revenue by providing access to its properties and related resources. Its activities include surface-use agreements, easements, rights-of-way, water services, mineral and royalty interests, and accommodations for energy, logistics, and infrastructure projects.