Jefferies Group Weighs in on HCP, Inc.’s FY2018 Earnings (HCP)

HCP, Inc. (NYSE:HCP) – Equities research analysts at Jefferies Group cut their FY2018 earnings estimates for HCP in a report released on Tuesday. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings per share of $1.70 for the year, down from their previous forecast of $1.75. Jefferies Group also issued estimates for HCP’s FY2019 earnings at $1.82 EPS.

HCP (NYSE:HCP) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $454.00 million during the quarter, compared to analysts’ expectations of $440.60 million. HCP had a net margin of 27.31% and a return on equity of 8.85%. The company’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share.

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of HCP from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Bank of America cut shares of HCP from a “buy” rating to a “neutral” rating and cut their target price for the stock from $33.00 to $31.00 in a research note on Friday, September 22nd. Stifel Nicolaus raised shares of HCP from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Tuesday, December 5th. Mizuho raised shares of HCP from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. raised shares of HCP from a “neutral” rating to an “overweight” rating and set a $29.00 target price for the company in a research note on Friday, December 15th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. HCP presently has an average rating of “Hold” and a consensus price target of $30.14.

HCP (NYSE:HCP) remained flat at $$23.72 during mid-day trading on Wednesday. The stock had a trading volume of 3,859,981 shares, compared to its average volume of 4,003,044. The firm has a market cap of $11,130.00, a PE ratio of 42.36, a PEG ratio of 2.64 and a beta of 0.33. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.61 and a quick ratio of 0.61. HCP has a one year low of $23.49 and a one year high of $33.67.

A number of hedge funds and other institutional investors have recently made changes to their positions in HCP. Cohen & Steers Inc. grew its stake in HCP by 26.6% during the 3rd quarter. Cohen & Steers Inc. now owns 35,762,597 shares of the real estate investment trust’s stock valued at $995,273,000 after acquiring an additional 7,524,081 shares in the last quarter. Principal Financial Group Inc. grew its stake in HCP by 475.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,284,833 shares of the real estate investment trust’s stock valued at $119,248,000 after acquiring an additional 3,539,670 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in HCP by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,243,041 shares of the real estate investment trust’s stock valued at $340,724,000 after acquiring an additional 1,632,319 shares in the last quarter. Royal Bank of Canada grew its stake in HCP by 353.7% during the 2nd quarter. Royal Bank of Canada now owns 1,826,053 shares of the real estate investment trust’s stock valued at $58,362,000 after acquiring an additional 1,423,582 shares in the last quarter. Finally, Cbre Clarion Securities LLC grew its stake in HCP by 18.1% during the 2nd quarter. Cbre Clarion Securities LLC now owns 9,223,958 shares of the real estate investment trust’s stock valued at $294,798,000 after acquiring an additional 1,413,760 shares in the last quarter. 90.07% of the stock is owned by institutional investors.

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About HCP

HCP, Inc is a self-administered real estate investment trust. The Company invests in real estate serving the healthcare industry in the United States. The Company’s segments include senior housing triple-net (SH NNN), senior housing operating portfolio (SHOP), life science and medical office. Its senior housing facilities include independent living facilities, assisted living facilities, memory care facilities, care homes, and continuing care retirement communities.

Earnings History and Estimates for HCP (NYSE:HCP)

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