Alexander & Baldwin (NYSE:ALEX – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.990-1.080 for the period, compared to the consensus estimate of 1.140. The company issued revenue guidance of -.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler raised shares of Alexander & Baldwin from a neutral rating to an overweight rating and lifted their target price for the company from $17.00 to $22.00 in a research note on Friday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Alexander & Baldwin currently has a consensus rating of Moderate Buy and a consensus target price of $21.00.
Read Our Latest Stock Report on Alexander & Baldwin
Alexander & Baldwin Stock Up 6.2 %
Alexander & Baldwin (NYSE:ALEX – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $61.20 million for 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 in the prior year, the firm posted $0.29 EPS. On average, sell-side analysts anticipate that Alexander & Baldwin will post 1.15 EPS for the current year.
Alexander & Baldwin Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.2225 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.89 annualized dividend and a yield of 4.57%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio is currently 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.
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