Eastgroup Properties Receives Average Rating of “Hold” from Brokerages (NYSE:EGP)
Eastgroup Properties (NYSE:EGP) has been given an average rating of “Hold” by the eight analysts that are currently covering the company, American Banking and Market News reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $65.39.
Eastgroup Properties (NYSE:EGP) traded up 0.31% during mid-day trading on Thursday, hitting $62.23. 8,127 shares of the company’s stock traded hands. Eastgroup Properties has a 52-week low of $54.98 and a 52-week high of $66.24. The stock’s 50-day moving average is $63.94 and its 200-day moving average is $62.70. The company has a market cap of $1.951 billion and a price-to-earnings ratio of 54.09.
Eastgroup Properties (NYSE:EGP) last released its earnings data on Thursday, July 17th. The company reported $0.84 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.85 by $0.01. The company had revenue of $53.80 million for the quarter, compared to the consensus estimate of $53.24 million. During the same quarter last year, the company posted $0.80 earnings per share. Eastgroup Properties’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Eastgroup Properties will post $3.45 earnings per share for the current fiscal year.
A number of research firms have recently commented on EGP. Analysts at Cowen and Company raised their price target on shares of Eastgroup Properties from $4.00 to $58.00 in a research note on Tuesday, July 29th. Separately, analysts at Goldman Sachs initiated coverage on shares of Eastgroup Properties in a research note on Thursday, June 26th. They set a “buy” rating and a $74.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Eastgroup Properties in a research note on Thursday, June 19th. They now have a $65.00 price target on the stock, up previously from $63.50.
EastGroup Properties, Inc (NYSE:EGP) is an equity real estate investment trust (REIT).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.