LandBridge (NYSE:LB) Announces Quarterly Earnings Results

LandBridge (NYSE:LB) released its quarterly earnings data on Wednesday. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.08), FiscalAI reports. LandBridge had a net margin of 16.49% and a return on equity of 4.75%. The company had revenue of $70.89 million for the quarter, compared to the consensus estimate of $65.94 million. LandBridge’s revenue was up 39.5% on a year-over-year basis.

LandBridge Trading Down 13.3%

Shares of LB traded down $10.51 during midday trading on Wednesday, hitting $68.47. The stock had a trading volume of 1,404,186 shares, compared to its average volume of 259,706. LandBridge has a 1 year low of $43.75 and a 1 year high of $91.69. The firm has a market cap of $5.28 billion, a PE ratio of 60.59 and a beta of 0.19. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27. The stock’s 50 day moving average is $83.60 and its 200 day moving average is $73.66.

Analyst Ratings Changes

Several brokerages have recently issued reports on LB. Piper Sandler lifted their target price on LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, September 1st. Weiss Ratings lowered LandBridge from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, October 27th. Raymond James Financial restated an “outperform” rating and set a $91.00 price target on shares of LandBridge in a report on Monday, October 19th. Citigroup lifted their price objective on LandBridge from $66.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 26th. Finally, Zacks Research cut LandBridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LandBridge presently has a consensus rating of “Hold” and an average price target of $83.00.

LandBridge Company Profile

LandBridge Company (NYSE: LB) is a landowner and infrastructure-focused real estate company serving the energy and industrial sectors. The company owns and manages large tracts of land in the Permian Basin, primarily in West Texas and southeastern New Mexico, one of the leading oil and natural gas producing regions in the United States.

LandBridge generates revenue by providing access to its properties and related resources. Its activities include surface-use agreements, easements, rights-of-way, water services, mineral and royalty interests, and accommodations for energy, logistics, and infrastructure projects.