CubeSmart (CUBE) Releases FY14 Earnings Guidance
CubeSmart (NASDAQ:CUBE) issued an update on its FY14 earnings guidance on Thursday morning. The company provided EPS guidance of $0.98-1.02 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.02, Analyst RN reports. CubeSmart also updated its Q1 guidance to $0.23-0.24 EPS.
CubeSmart (NASDAQ:CUBE) traded down 0.80% on Thursday, hitting $17.46. 1,138,713 shares of the company’s stock traded hands. CubeSmart has a 1-year low of $14.50 and a 1-year high of $19.69. The stock has a 50-day moving average of $16.45 and a 200-day moving average of $16.97. The company has a market cap of $2.429 billion and a price-to-earnings ratio of 170.87.
CubeSmart (NASDAQ:CUBE) last announced its earnings results on Thursday, February 27th. The company reported $0.23 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.23. The company had revenue of $82.96 million for the quarter, compared to the consensus estimate of $83.42 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts predict that CubeSmart will post $0.90 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, March 28th.
A number of analysts have recently weighed in on CUBE shares. Analysts at ISI Group initiated coverage on shares of CubeSmart in a research note on Wednesday, February 19th. They set a buy rating on the stock. On a related note, analysts at Raymond James upgraded shares of CubeSmart from a market perform rating to an outperform rating in a research note on Tuesday, February 18th. They now have a $20.00 price target on the stock. Finally, analysts at Wells Fargo & Co. downgraded shares of CubeSmart from an outperform rating to a market perform rating in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $19.68.
CubeSmart is a financials company in the Specialized REITs industry.
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