Brokerages predict that Cousins Properties Inc (NYSE:CUZ) will post $109.85 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Cousins Properties’ earnings. The lowest sales estimate is $106.56 million and the highest is $113.64 million. Cousins Properties reported sales of $112.52 million in the same quarter last year, which indicates a negative year over year growth rate of 2.4%. The company is scheduled to report its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Cousins Properties will report full-year sales of $109.85 million for the current financial year, with estimates ranging from $433.16 million to $457.97 million. For the next financial year, analysts forecast that the firm will report sales of $467.29 million per share, with estimates ranging from $439.95 million to $487.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Cousins Properties.
Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.07). Cousins Properties had a net margin of 24.64% and a return on equity of 4.56%. The firm had revenue of $109.94 million during the quarter, compared to analyst estimates of $109.05 million.
Several brokerages have commented on CUZ. Bank of America upgraded shares of Cousins Properties from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, December 4th. ValuEngine lowered shares of Cousins Properties from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. SunTrust Banks set a $10.00 price target on shares of Cousins Properties and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Zacks Investment Research upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.10.
Shares of Cousins Properties (NYSE:CUZ) traded up $0.06 during trading hours on Wednesday, hitting $8.68. 1,986,579 shares of the company’s stock traded hands, compared to its average volume of 3,300,633. Cousins Properties has a 12 month low of $7.81 and a 12 month high of $9.63. The firm has a market capitalization of $3,640.00, a price-to-earnings ratio of 17.02, a P/E/G ratio of 4.68 and a beta of 1.16. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.39.
In related news, insider S Taylor Glover sold 74,351 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $9.41, for a total transaction of $699,642.91. Following the transaction, the insider now owns 485,284 shares in the company, valued at $4,566,522.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.14% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Cousins Properties by 4.6% in the fourth quarter. BlackRock Inc. now owns 57,131,287 shares of the real estate investment trust’s stock worth $528,463,000 after buying an additional 2,522,133 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Cousins Properties by 4.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 22,962,236 shares of the real estate investment trust’s stock worth $212,400,000 after buying an additional 1,066,008 shares during the last quarter. Bank of New York Mellon Corp grew its position in Cousins Properties by 95.0% in the fourth quarter. Bank of New York Mellon Corp now owns 11,603,704 shares of the real estate investment trust’s stock worth $107,335,000 after buying an additional 5,653,879 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Cousins Properties by 263.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,443,252 shares of the real estate investment trust’s stock worth $78,100,000 after buying an additional 6,122,947 shares during the last quarter. Finally, Virtus Fund Advisers LLC grew its position in Cousins Properties by 7.9% in the fourth quarter. Virtus Fund Advisers LLC now owns 5,945,500 shares of the real estate investment trust’s stock worth $55,353,000 after buying an additional 435,900 shares during the last quarter.
About Cousins Properties
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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