Analysts Expect City Office REIT, Inc. (CIO) Will Announce Quarterly Sales of $29.82 Million
Wall Street brokerages expect City Office REIT, Inc. (NYSE:CIO) to post $29.82 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for City Office REIT’s earnings, with the lowest sales estimate coming in at $28.87 million and the highest estimate coming in at $31.27 million. City Office REIT reported sales of $21.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 40%. The business is scheduled to issue its next earnings report on Thursday, March 1st.
According to Zacks, analysts expect that City Office REIT will report full year sales of $29.82 million for the current year, with estimates ranging from $103.86 million to $107.16 million. For the next year, analysts forecast that the company will report sales of $121.98 million per share, with estimates ranging from $119.02 million to $125.64 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for City Office REIT.
CIO has been the topic of a number of recent research reports. ValuEngine upgraded City Office REIT from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. FBR & Co restated a “buy” rating on shares of City Office REIT in a research note on Friday, October 6th. B. Riley restated a “buy” rating and issued a $14.50 target price on shares of City Office REIT in a research note on Tuesday, November 7th. Finally, Zacks Investment Research downgraded City Office REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $14.50.
Shares of City Office REIT (NYSE CIO) traded down $0.06 during midday trading on Thursday, reaching $12.93. The company’s stock had a trading volume of 143,500 shares, compared to its average volume of 153,282. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 2.80. City Office REIT has a 1 year low of $11.43 and a 1 year high of $13.93. The stock has a market capitalization of $393.11, a P/E ratio of 14.60, a P/E/G ratio of 1.52 and a beta of 0.22.
TRADEMARK VIOLATION NOTICE: This article was first reported by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.americanbankingnews.com/2017/12/07/analysts-expect-city-office-reit-inc-cio-will-announce-quarterly-sales-of-29-82-million.html.
City Office REIT Company Profile
City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for City Office REIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Office REIT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.