Brookfield Office Properties (BPO) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Brookfield Office Properties (NYSE:BPO) announced its earnings results on Friday. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.03, Analyst Ratings News reports. The company had revenue of $285.00 million for the quarter, compared to the consensus estimate of $591.00 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down 49.6% on a year-over-year basis.
A number of analysts have recently weighed in on BPO shares. Analysts at Scotiabank reiterated a “sector perform” rating on shares of Brookfield Office Properties in a research note on Tuesday. On the ratings front, analysts at Barclays reiterated an “equal weight” rating on shares of Brookfield Office Properties in a research note on Tuesday. They now have a $19.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $19.88.
Shares of Brookfield Office Properties (NYSE:BPO) opened at 19.90 on Friday. Brookfield Office Properties has a 52 week low of $15.60 and a 52 week high of $20.01. The stock’s 50-day moving average is $19.46 and its 200-day moving average is $19.10. The company has a market cap of $10.083 billion and a P/E ratio of 10.56. Brookfield Office Properties also was the target of a large decrease in short interest in the month of January. As of March 31st, there was short interest totalling 2,185,399 shares, a decrease of 76.6% from the March 14th total of 9,350,664 shares. Based on an average daily trading volume, of 4,229,594 shares, the short-interest ratio is presently 0.5 days. Approximately 0.4% of the company’s shares are sold short.
Brookfield Office Properties Inc (NYSE:BPO) owns, develops and manages premier office properties in the United States, Canada, Australia and the United Kingdom.
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