Cousins Properties Rating Reiterated by Zacks (CUZ)
Cousins Properties (NYSE:CUZ)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Wednesday, AR Network reports. They currently have a $11.00 price target on the stock. Zacks‘ target price would indicate a potential upside of 4.66% from the stock’s previous close.
Zacks‘ analyst wrote, “Cousins Properties is scheduled to release its third-quarter 2013 earnings results after the market closes on Oct 30. The company’s second-quarter 2013 FFO per share beat the Zacks Consensus Estimate, aided by a better-than-expected growth in revenues. However, it missed the year-ago figure as one-time expense acted as a dampener. Nevertheless, the successful execution of the company’s portfolio repositioning activity added to the positives. The recent Texas portfolio buyout and retail assets dispositions are also notable in this respect. Also, the company has a strong balance sheet. Yet, continued volatility in the office sector with job cuts, a decline in market fundamentals and increasing Internet sales that adversely impact the demand for the company’s retail space may limit its growth prospects. Moreover, stiff competition from commercial property developers and rising interest rates remain headwinds. Thus, our Neutral stance on the stock remains in place.”
A number of other firms have also recently commented on CUZ. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Cousins Properties in a research note to investors on Tuesday, September 17th. They now have a $10.00 price target on the stock. Analysts at TheStreet downgraded shares of Cousins Properties from a “buy” rating to a “hold” rating in a research note to investors on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Cousins Properties presently has an average rating of “Hold” and a consensus target price of $9.83.
Cousins Properties (NYSE:CUZ) traded up 0.38% during mid-day trading on Wednesday, hitting $10.51. The stock had a trading volume of 1,724,264 shares. Cousins Properties has a one year low of $7.67 and a one year high of $11.28. The stock has a 50-day moving average of $10.22 and a 200-day moving average of $10.38. The company has a market cap of $1.268 billion and a P/E ratio of 13.05.
Cousins Properties (NYSE:CUZ) last released its earnings data on Monday, July 29th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.12 by $0.02. The company had revenue of $441.20 million for the quarter. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 1257.5% on a year-over-year basis. On average, analysts predict that Cousins Properties will post $0.51 earnings per share for the current fiscal year.
Cousins Properties Incorporated (NYSE:CUZ) is a real estate investment trust (REIT).
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