Cousins Properties (NYSE:CUZ) Releases FY 2024 Earnings Guidance

Cousins Properties (NYSE:CUZ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.600-2.670 for the period, compared to the consensus estimate of 2.620. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.60-$2.67 EPS.

Cousins Properties Trading Down 0.8 %

Shares of NYSE:CUZ traded down $0.18 during trading on Friday, reaching $22.86. The company’s stock had a trading volume of 2,938,154 shares, compared to its average volume of 1,164,756. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.54. Cousins Properties has a 12 month low of $17.40 and a 12 month high of $25.19. The firm’s 50 day simple moving average is $23.05 and its two-hundred day simple moving average is $22.18. The stock has a market capitalization of $3.48 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 6.17 and a beta of 1.27.

Cousins Properties (NYSE:CUZ) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.53). The company had revenue of $197.00 million for the quarter, compared to analysts’ expectations of $198.47 million. Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. On average, research analysts predict that Cousins Properties will post 2.62 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, April 4th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 5.60%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cousins Properties’s payout ratio is 261.22%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CUZ. Barclays lowered their target price on shares of Cousins Properties from $29.00 to $25.00 and set an overweight rating for the company in a research note on Wednesday, March 27th. Truist Financial lowered their price objective on shares of Cousins Properties from $27.00 to $26.00 and set a buy rating for the company in a research note on Tuesday, January 16th. Finally, StockNews.com upgraded shares of Cousins Properties from a sell rating to a hold rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Cousins Properties presently has an average rating of Hold and a consensus target price of $23.67.

Cousins Properties Company Profile

Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.