Zacks: Brokerages Anticipate General Growth Properties, Inc. (GGP) Will Announce Quarterly Sales of $625.73 Million
Wall Street analysts forecast that General Growth Properties, Inc. (NYSE:GGP) will announce $625.73 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for General Growth Properties’ earnings, with the lowest sales estimate coming in at $612.50 million and the highest estimate coming in at $646.14 million. General Growth Properties reported sales of $610.34 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.5%. The company is scheduled to announce its next quarterly earnings results on Monday, January 29th.
According to Zacks, analysts expect that General Growth Properties will report full-year sales of $625.73 million for the current financial year, with estimates ranging from $2.24 billion to $2.35 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.42 billion per share, with estimates ranging from $2.37 billion to $2.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover General Growth Properties.
A number of research analysts recently issued reports on GGP shares. J P Morgan Chase & Co upgraded shares of General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 target price for the company in a research report on Tuesday, September 26th. Boenning Scattergood restated a “buy” rating and set a $34.50 target price on shares of General Growth Properties in a research report on Tuesday, November 21st. SunTrust Banks set a $26.00 target price on shares of General Growth Properties and gave the company a “buy” rating in a research report on Tuesday, October 31st. BMO Capital Markets started coverage on shares of General Growth Properties in a research report on Monday, September 11th. They set a “market perform” rating and a $22.00 target price for the company. Finally, Stifel Nicolaus restated a “buy” rating and set a $24.00 target price on shares of General Growth Properties in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $25.46.
Shares of General Growth Properties (GGP) opened at $23.31 on Friday. The firm has a market cap of $22,088.56, a price-to-earnings ratio of 14.97, a PEG ratio of 2.50 and a beta of 0.85. General Growth Properties has a 1-year low of $18.83 and a 1-year high of $26.43. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.68.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be given a $0.22 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.78%. General Growth Properties’s dividend payout ratio (DPR) is currently 122.22%.
About General Growth Properties
GGP Inc (GGP), formerly General Growth Properties, Inc, is a self-administered and self-managed real estate investment trust (REIT). The Company operates as a holding company, which is engaged in the operation, development and management of retail and other rental properties, primarily regional malls.
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