Analysts forecast that Cousins Properties Inc (NYSE:CUZ) will report sales of $116.22 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Cousins Properties’ earnings. The lowest sales estimate is $114.16 million and the highest is $117.88 million. Cousins Properties reported sales of $113.16 million in the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The company is expected to issue its next quarterly earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Cousins Properties will report full-year sales of $467.41 million for the current fiscal year, with estimates ranging from $455.82 million to $477.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $493.86 million per share, with estimates ranging from $461.85 million to $513.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Cousins Properties.
Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.10). The business had revenue of $113.70 million during the quarter, compared to analyst estimates of $115.28 million. Cousins Properties had a net margin of 17.63% and a return on equity of 2.86%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS.
A number of research firms have weighed in on CUZ. Zacks Investment Research raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Monday, July 9th. SunTrust Banks restated a “buy” rating and set a $10.00 price objective on shares of Cousins Properties in a report on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Cousins Properties presently has an average rating of “Buy” and a consensus price target of $10.00.
In other news, insider John S. Mccoll sold 14,333 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $9.26, for a total transaction of $132,723.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.94% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CUZ. BlackRock Inc. increased its stake in Cousins Properties by 2.0% during the 2nd quarter. BlackRock Inc. now owns 59,096,690 shares of the real estate investment trust’s stock valued at $572,646,000 after purchasing an additional 1,175,093 shares in the last quarter. Cbre Clarion Securities LLC bought a new stake in shares of Cousins Properties in the 2nd quarter worth $143,743,000. Northern Trust Corp grew its stake in shares of Cousins Properties by 3.2% in the 1st quarter. Northern Trust Corp now owns 10,727,600 shares of the real estate investment trust’s stock worth $93,116,000 after acquiring an additional 332,591 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cousins Properties by 28.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,341,948 shares of the real estate investment trust’s stock worth $90,522,000 after acquiring an additional 2,077,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cousins Properties by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,420,537 shares of the real estate investment trust’s stock worth $62,214,000 after acquiring an additional 148,271 shares in the last quarter.
Cousins Properties stock traded down $0.03 on Monday, reaching $9.42. 109,570 shares of the stock were exchanged, compared to its average volume of 2,501,170. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 4.58 and a beta of 0.93. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.97 and a quick ratio of 1.97. Cousins Properties has a twelve month low of $8.23 and a twelve month high of $9.88.
About Cousins Properties
Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, acting through its operating partnership, Cousins Properties LP, primarily invests in Class-A office towers located in high growth Sunbelt markets.
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