Zacks: Analysts Anticipate Boston Properties, Inc. (NYSE:BXP) to Post $1.55 EPS
Brokerages expect Boston Properties, Inc. (NYSE:BXP) to announce earnings per share (EPS) of $1.55 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Boston Properties’ earnings. The lowest EPS estimate is $1.52 and the highest is $1.59. Boston Properties posted earnings per share of $1.42 in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.2%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Boston Properties will report full-year earnings of $6.21 per share for the current financial year, with EPS estimates ranging from $6.16 to $6.24. For the next year, analysts forecast that the firm will post earnings of $6.54 per share, with EPS estimates ranging from $6.32 to $6.74. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Boston Properties.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 EPS for the quarter, topping the consensus estimate of $1.62 by $0.05. The firm had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share.
A number of research analysts have recently commented on the company. TheStreet upgraded Boston Properties from a “c” rating to a “b-” rating in a research report on Tuesday. BidaskClub downgraded Boston Properties from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Barclays PLC lowered their target price on Boston Properties from $141.00 to $137.00 and set an “overweight” rating for the company in a research report on Tuesday, July 18th. Zacks Investment Research downgraded Boston Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $121.00 target price on shares of Boston Properties in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $137.92.
A number of hedge funds have recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC raised its stake in Boston Properties by 12,201.8% in the second quarter. Harbour Capital Advisors LLC now owns 13,532 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 13,422 shares during the last quarter. Jane Street Group LLC acquired a new stake in Boston Properties during the first quarter worth $200,000. Atria Investments LLC acquired a new stake in Boston Properties during the first quarter worth $224,000. Raymond James Trust N.A. acquired a new stake in Boston Properties during the first quarter worth $232,000. Finally, Parametrica Management Ltd acquired a new stake in Boston Properties during the second quarter worth $252,000. Institutional investors and hedge funds own 94.73% of the company’s stock.
Shares of Boston Properties (NYSE:BXP) traded up 0.41% on Friday, hitting $124.22. 765,444 shares of the company traded hands. The firm’s 50 day moving average price is $122.34 and its 200-day moving average price is $128.10. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of 45.84 and a beta of 0.64. Boston Properties has a 1-year low of $113.69 and a 1-year high of $144.02.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were paid a $0.75 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 2.42%. Boston Properties’s payout ratio is 102.04%.
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About Boston Properties
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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