Q3 2024 EPS Estimates for Alexander & Baldwin, Inc. Decreased by Sidoti Csr (NYSE:ALEX)

Alexander & Baldwin, Inc. (NYSE:ALEX) – Sidoti Csr cut their Q3 2024 earnings per share (EPS) estimates for shares of Alexander & Baldwin in a research note issued to investors on Friday, April 26th. Sidoti Csr analyst B. Mccarthy now forecasts that the financial services provider will post earnings per share of $0.25 for the quarter, down from their previous estimate of $0.27. The consensus estimate for Alexander & Baldwin’s current full-year earnings is $1.11 per share. Sidoti Csr also issued estimates for Alexander & Baldwin’s Q1 2025 earnings at $0.31 EPS and Q2 2025 earnings at $0.30 EPS.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $61.20 million during the quarter, compared to analysts’ expectations of $51.55 million. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. During the same period last year, the business earned $0.29 earnings per share.

A number of other research analysts have also recently commented on the stock. Piper Sandler cut their price target on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. TheStreet lowered Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.50.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock opened at $16.47 on Monday. The firm has a market cap of $1.20 billion, a P/E ratio of 27.00 and a beta of 1.21. The firm’s 50-day simple moving average is $16.32 and its 200-day simple moving average is $16.98. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $19.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.43 and a current ratio of 0.38.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its position in Alexander & Baldwin by 188.4% in the 3rd quarter. SG Americas Securities LLC now owns 43,980 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 28,731 shares during the last quarter. Vert Asset Management LLC raised its holdings in shares of Alexander & Baldwin by 9.4% in the third quarter. Vert Asset Management LLC now owns 30,539 shares of the financial services provider’s stock valued at $511,000 after buying an additional 2,622 shares during the last quarter. Reinhart Partners LLC. lifted its position in Alexander & Baldwin by 2.8% during the 3rd quarter. Reinhart Partners LLC. now owns 2,267,952 shares of the financial services provider’s stock worth $37,943,000 after buying an additional 61,852 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Alexander & Baldwin by 12.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,668 shares of the financial services provider’s stock worth $530,000 after acquiring an additional 3,507 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Alexander & Baldwin by 46.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,114 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.222 per share. This represents a $0.89 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Friday, June 14th. Alexander & Baldwin’s payout ratio is 145.90%.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.