Cousins Properties (CUZ) Set to Announce Quarterly Earnings on Thursday

Cousins Properties (NYSE:CUZ) is scheduled to announce its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $0.67 per share for the quarter. Cousins Properties has set its FY24 guidance at $2.63-2.68 EPS and its FY 2024 guidance at 2.630-2.680 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.61). The company had revenue of $212.98 million during the quarter, compared to the consensus estimate of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $2.75 earnings per share. On average, analysts expect Cousins Properties to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cousins Properties Trading Down 1.8 %

Cousins Properties stock opened at $31.24 on Tuesday. The firm has a 50 day simple moving average of $28.91 and a 200-day simple moving average of $25.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $4.75 billion, a PE ratio of 63.74, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30. Cousins Properties has a 12-month low of $17.40 and a 12-month high of $31.98.

Cousins Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.

Insider Activity at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares in the company, valued at approximately $352,440.77. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CUZ. Barclays raised their target price on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their target price on shares of Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Robert W. Baird raised their target price on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial raised their target price on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Evercore ISI raised their target price on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

About Cousins Properties

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.