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

Alexander & Baldwin (NYSE:ALEX) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.990-1.080 for the period, compared to the consensus estimate of 1.140. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised Alexander & Baldwin from a neutral rating to an overweight rating and boosted their price objective for the stock from $17.00 to $22.00 in a report on Friday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $21.00.

Alexander & Baldwin Trading Up 6.2 %

Shares of Alexander & Baldwin stock traded up $1.14 during midday trading on Friday, reaching $19.50. 1,427,476 shares of the company’s stock traded hands, compared to its average volume of 321,017. The stock has a 50 day moving average of $16.99 and a 200-day moving average of $16.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $1.42 billion, a PE ratio of 31.96 and a beta of 1.26. Alexander & Baldwin has a 12 month low of $15.53 and a 12 month high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. The firm had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $51.55 million. During the same period in the prior year, the firm posted $0.29 earnings per share. As a group, equities analysts expect that Alexander & Baldwin will post 1.15 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be given a dividend of $0.2225 per share. The ex-dividend date is Friday, September 20th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a dividend yield of 4.57%. Alexander & Baldwin’s dividend payout ratio (DPR) is 145.90%.

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.