CBL & Associates Properties (CBL) Releases Quarterly Earnings Results, Hits Expectations
CBL & Associates Properties (NYSE:CBL) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45, Bloomberg Earnings reports. The business had revenue of $216.90 million during the quarter, compared to the consensus estimate of $216.50 million. CBL & Associates Properties had a negative net margin of 9.33% and a negative return on equity of 6.62%. CBL & Associates Properties’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. CBL & Associates Properties updated its FY 2019 guidance to $1.41-1.46 EPS and its FY19 guidance to $1.41-$1.46 EPS.
NYSE:CBL opened at $2.34 on Friday. The firm has a market cap of $391.96 million, a P/E ratio of 1.31, a P/E/G ratio of -0.50 and a beta of 1.53. CBL & Associates Properties has a one year low of $1.79 and a one year high of $6.26. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 3.67.
CBL has been the subject of several research analyst reports. Zacks Investment Research cut shares of CBL & Associates Properties from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. ValuEngine upgraded shares of CBL & Associates Properties from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 30th. Morgan Stanley set a $2.00 target price on shares of CBL & Associates Properties and gave the company a “sell” rating in a research note on Tuesday, November 27th. JPMorgan Chase & Co. cut shares of CBL & Associates Properties from a “neutral” rating to an “underweight” rating in a research note on Wednesday, December 19th. Finally, Mizuho set a $2.00 target price on shares of CBL & Associates Properties and gave the company a “sell” rating in a research note on Sunday, December 16th. Eight research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of “Sell” and an average price target of $3.54.
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Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 114 properties totaling 71.9 million square feet across 26 states, including 73 high-quality enclosed, outlet and open-air retail centers and 12 properties managed for third parties.
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