Cousins Properties (NYSE:CUZ) Releases Earnings Results, Misses Expectations By $0.60 EPS

28 Oct 2024, 02:14 by Tristan Rich · The Markets Daily

Cousins Properties (NYSE:CUZ – Get Free Report) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60), Zacks reports. The business had revenue of $209.21 million for the quarter, compared to analyst estimates of $212.54 million. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. Cousins Properties updated its FY24 guidance to $2.66-2.70 EPS and its FY 2024 guidance to 2.660-2.700 EPS.

Cousins Properties Stock Up 0.5 %

Shares of Cousins Properties stock traded up $0.17 on Friday, reaching $31.54. 1,625,314 shares of the company were exchanged, compared to its average volume of 1,303,659. Cousins Properties has a 1-year low of $17.40 and a 1-year high of $32.17. The company has a market cap of $4.80 billion, a P/E ratio of 64.37, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day moving average price is $29.24 and its 200-day moving average price is $25.79.

Cousins Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is presently 261.22%.

Wall Street Analysts Forecast Growth

CUZ has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Truist Financial raised their price objective on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Robert W. Baird raised their price objective on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Evercore ISI raised their price objective on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Barclays lifted their target price on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.67.

Check Out Our Latest Stock Report on Cousins Properties

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the transaction, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Cousins Properties Company Profile

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