Cousins Properties (NYSE:CUZ – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.63-2.68 for the period, compared to the consensus EPS estimate of $2.65. Cousins Properties also updated its FY 2024 guidance to 2.630-2.680 EPS.
Cousins Properties Stock Up 8.2 %
Shares of NYSE CUZ traded up $2.06 during midday trading on Friday, hitting $27.24. 2,703,780 shares of the stock traded hands, compared to its average volume of 1,132,019. The company has a market cap of $4.14 billion, a PE ratio of 55.61, a P/E/G ratio of 4.17 and a beta of 1.30. Cousins Properties has a one year low of $17.40 and a one year high of $27.30. The business has a 50 day moving average price of $23.40 and a two-hundred day moving average price of $23.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.07 and a current ratio of 1.07.
Cousins Properties (NYSE:CUZ – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). The company had revenue of $212.98 million during the quarter, compared to analysts’ expectations of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.30%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.75 earnings per share. On average, equities analysts predict that Cousins Properties will post 2.65 EPS for the current year.
Cousins Properties Announces Dividend
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded Cousins Properties from a sell rating to a hold rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $23.67.
Insider Transactions at Cousins Properties
In other Cousins Properties news, CFO Gregg D. Adzema sold 71,097 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $1,657,271.07. Following the completion of the transaction, the chief financial officer now owns 85,872 shares in the company, valued at approximately $2,001,676.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.
About Cousins Properties
Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.
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