Zacks: Brokerages Anticipate HCP, Inc. (NYSE:HCP) Will Post Quarterly Sales of $462.02 Million
Wall Street brokerages forecast that HCP, Inc. (NYSE:HCP) will report $462.02 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for HCP’s earnings, with the highest sales estimate coming in at $483.90 million and the lowest estimate coming in at $440.13 million. HCP reported sales of $654.27 million during the same quarter last year, which would suggest a negative year over year growth rate of 29.4%. The company is expected to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that HCP will report full-year sales of $462.02 million for the current fiscal year, with estimates ranging from $1.79 billion to $2.12 billion. For the next year, analysts expect that the business will post sales of $1.98 billion per share, with estimates ranging from $1.80 billion to $2.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow HCP.
HCP (NYSE:HCP) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. HCP had a return on equity of 9.96% and a net margin of 32.16%. The business had revenue of $458.90 million for the quarter, compared to the consensus estimate of $456.29 million. During the same period in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year.
Several analysts have issued reports on the company. UBS AG raised HCP from an “underperform” rating to an “outperform” rating in a research report on Wednesday, June 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $31.00 target price on shares of HCP in a research report on Friday, July 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $33.00 target price on shares of HCP in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) cut HCP from a “buy” rating to a “neutral” rating and dropped their target price for the company from $35.00 to $32.00 in a research report on Monday, July 24th. Finally, BidaskClub cut HCP from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.42.
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In related news, insider Thomas Klaritch sold 2,651 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total value of $83,586.03. Following the completion of the transaction, the insider now owns 176,830 shares in the company, valued at approximately $5,575,449.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.
Institutional investors have recently modified their holdings of the company. ARGI Investment Services LLC purchased a new position in shares of HCP during the second quarter worth about $807,000. Crawford Investment Counsel Inc. raised its position in shares of HCP by 36.4% in the second quarter. Crawford Investment Counsel Inc. now owns 373,778 shares of the real estate investment trust’s stock worth $11,946,000 after buying an additional 99,672 shares during the period. Eii Capital Management Inc. purchased a new position in shares of HCP during the second quarter worth about $1,751,000. OMERS ADMINISTRATION Corp purchased a new position in shares of HCP during the second quarter worth about $1,560,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of HCP by 88.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 321,968 shares of the real estate investment trust’s stock worth $10,290,000 after buying an additional 150,939 shares during the period. Institutional investors own 89.13% of the company’s stock.
HCP (NYSE HCP) traded up 0.17% during midday trading on Friday, reaching $29.61. The company’s stock had a trading volume of 4,181,082 shares. The company has a market cap of $13.89 billion, a P/E ratio of 20.18 and a beta of 0.37. The firm has a 50 day moving average price of $31.84 and a 200-day moving average price of $31.28. HCP has a 12-month low of $27.61 and a 12-month high of $36.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th will be given a $0.37 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.00%. HCP’s payout ratio is 102.07%.
HCP Company Profile
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.
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