CBL & Associates Properties, Inc. (CBL) Issues FY14 Earnings Guidance
CBL & Associates Properties, Inc. (NYSE:CBL) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.22-2.26 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.25, American Banking News reports.
CBL & Associates Properties, Inc. (NYSE:CBL) traded down 0.88% during mid-day trading on Tuesday, hitting $19.24. The stock had a trading volume of 860,652 shares. CBL & Associates Properties, Inc. has a one year low of $16.00 and a one year high of $23.63. The stock has a 50-day moving average of $19.18 and a 200-day moving average of $18.15. The company has a market cap of $3.276 billion and a P/E ratio of 50.42.
CBL & Associates Properties (NYSE:CBL) last announced its earnings results on Tuesday, July 29th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.53 by $0.02. The company had revenue of $256.90 million for the quarter, compared to the consensus estimate of $250.56 million. During the same quarter last year, the company posted $0.55 earnings per share. CBL & Associates Properties’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that CBL & Associates Properties, Inc. will post $2.21 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CBL shares. Analysts at Jefferies Group raised their price target on shares of CBL & Associates Properties from $19.00 to $20.00 in a research note on Tuesday, July 22nd. On a related note, analysts at Barclays cut their price target on shares of CBL & Associates Properties from $21.00 to $20.00 in a research note on Monday, July 21st. They now have an overweight rating on the stock. Finally, analysts at Barclays reiterated an overweight rating on shares of CBL & Associates Properties in a research note on Friday, June 20th. They now have a $21.00 price target on the stock, up previously from $19.00. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. CBL & Associates Properties presently has a consensus rating of Hold and a consensus target price of $20.71.
CBL & Associates Properties, Inc (NYSE:CBL) is a self-managed, self-administered, fully integrated real estate investment trust (REIT).
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