Brookdale Senior Living PT Raised to $46.00 at JMP Securities (BKD)
Investment analysts at JMP Securities upped their target price on shares of Brookdale Senior Living (NYSE:BKD) from $40.00 to $46.00 in a note issued to investors on Tuesday. The firm currently has an “outperform” rating on the stock. JMP Securities’ price objective would suggest a potential upside of 37.77% from the stock’s previous close.
The analysts wrote, “We reiterate our Market Outperform rating on Brookdale Senior Living and raise our price target to $46 from $40 based on 12.5x Adj. EV/2015 EBITDAR (unchanged) plus current merger synergy expectations, discounted at 10%, following our 10Q review. With the ESC merger closed, we are updating our 2014-2016 estimates to $2.58, $2.96, and $3.30 versus our previous BKD standalone 2014-2016 estimates of $2.73, $2.97, and $2.94, respectively. “We are very comfortable that BKD can achieve its year three $0.50 CFFOPS accretion guidance and we currently forecast $0.58 on better than expected operating results. We estimate that every $1.75mm in either cost savings or incremental profitability results in $0.01 CFFOPS. We believe the current weakness in the stock is more related to a shareholder position shift post-merger vs. industry fundamental deterioration, which presents a great long-term buying opportunity, in our opinion. Our $46 price target offers 37.3% upside from current levels.”
BKD has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Brookdale Senior Living from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 12th. They now have a $34.30 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Brookdale Senior Living from $34.00 to $36.00 in a research note on Friday, August 8th. Finally, analysts at Stifel Nicolaus raised their price target on shares of Brookdale Senior Living from $38.00 to $40.00 in a research note on Friday, August 8th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.83.
Shares of Brookdale Senior Living (NYSE:BKD) traded up 1.77% on Tuesday, hitting $33.98. The stock had a trading volume of 882,193 shares. Brookdale Senior Living has a one year low of $24.42 and a one year high of $36.18. The stock’s 50-day moving average is $34.27 and its 200-day moving average is $32.65. The company’s market cap is $5.878 billion.
Brookdale Senior Living (NYSE:BKD) last released its earnings data on Wednesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.66. The company had revenue of $748.39 million for the quarter, compared to the consensus estimate of $740.32 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts expect that Brookdale Senior Living will post $-0.20 EPS for the current fiscal year.
In other Brookdale Senior Living news, EVP Glenn O. Maul unloaded 11,484 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $32.58, for a total value of $374,148.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Brookdale Senior Living Inc (NYSE:BKD) is an owner and operator of senior living communities throughout the United States.
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