St. Joe Company (The) (JOE) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS
St. Joe Company (The) (NYSE:JOE) issued its quarterly earnings results on Thursday. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04, Bloomberg Earnings reports. St. Joe Company (The) had a return on equity of 3.57% and a net margin of 24.82%. The company had revenue of $33.60 million for the quarter, compared to analysts’ expectations of $25.80 million.
Shares of St. Joe Company (NYSE:JOE) traded up $0.15 during midday trading on Friday, hitting $17.95. The company had a trading volume of 315,446 shares, compared to its average volume of 286,163. St. Joe Company has a twelve month low of $16.30 and a twelve month high of $21.90. The firm has a market cap of $1,190.00, a PE ratio of 53.94 and a beta of 0.88.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded St. Joe Company (The) from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, October 17th. BidaskClub cut St. Joe Company (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th.
St. Joe Company (The) declared that its Board of Directors has initiated a share buyback program on Thursday, September 21st that authorizes the company to repurchase $66.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
About St. Joe Company (The)
The St. Joe Company is a real estate development, asset management and operating company. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. Its residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land.
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