Zacks: Analysts Expect GGP Inc (GGP) Will Announce Quarterly Sales of $584.02 Million
Analysts expect that GGP Inc (NYSE:GGP) will post sales of $584.02 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for GGP’s earnings, with estimates ranging from $582.8 million to $585.24 million. GGP reported sales of $574.59 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, August 7th.
On average, analysts expect that GGP will report full-year sales of $584.02 million for the current year. For the next fiscal year, analysts forecast that the company will post sales of $2.53 billion per share, with estimates ranging from $2.51 billion to $2.55 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow GGP.
GGP (NYSE:GGP) last issued its earnings results on Monday, May 1st. The real estate investment trust reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.25. GGP had a net margin of 54.91% and a return on equity of 15.52%. The firm had revenue of $566.33 million during the quarter, compared to analyst estimates of $561.66 million. During the same quarter in the prior year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis.
A number of research analysts recently commented on GGP shares. Barclays PLC raised their price target on GGP from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 8th. Zacks Investment Research cut GGP from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Royal Bank of Canada decreased their price target on GGP from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, May 8th. Finally, ValuEngine upgraded GGP from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. GGP presently has an average rating of “Buy” and a consensus price target of $31.18.
WARNING: “Zacks: Analysts Expect GGP Inc (GGP) Will Announce Quarterly Sales of $584.02 Million” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/05/27/zacks-analysts-expect-ggp-inc-ggp-will-announce-quarterly-sales-of-584-02-million.html.
A number of hedge funds have recently added to or reduced their stakes in the stock. Fusion Family Wealth LLC acquired a new stake in GGP during the fourth quarter valued at $101,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in GGP during the fourth quarter valued at $141,000. Oppenheimer Asset Management Inc. acquired a new stake in GGP during the first quarter valued at $195,000. Koch Industries Inc. acquired a new stake in GGP during the fourth quarter valued at $203,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in GGP during the first quarter valued at $204,000. 91.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of GGP (NYSE:GGP) opened at 22.65 on Friday. GGP has a 52 week low of $21.05 and a 52 week high of $32.10. The stock has a 50 day moving average of $22.73 and a 200 day moving average of $24.27. The firm has a market cap of $20.03 billion, a P/E ratio of 18.12 and a beta of 0.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Thursday, July 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Tuesday, July 11th. GGP’s dividend payout ratio (DPR) is presently 66.17%.
GGP Company Profile
GGP Inc (GGP), formerly General Growth Properties, Inc, is a self-administered and self-managed real estate investment trust (REIT). The Company operates as a holding company, which is engaged in the operation, development and management of retail and other rental properties, primarily regional malls.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GGP Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GGP Inc and related companies with MarketBeat.com's FREE daily email newsletter.