Cousins Properties (NYSE:CUZ) Releases FY 2024 Earnings Guidance

Cousins Properties (NYSE:CUZ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.600-2.670 for the period, compared to the consensus estimate of 2.620. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.60-$2.67 EPS.

Cousins Properties Stock Performance

Shares of Cousins Properties stock traded down $0.18 during midday trading on Friday, hitting $22.86. The company had a trading volume of 2,938,154 shares, compared to its average volume of 1,164,756. The business’s 50 day simple moving average is $23.05 and its two-hundred day simple moving average is $22.18. The stock has a market cap of $3.48 billion, a PE ratio of 46.65, a P/E/G ratio of 6.17 and a beta of 1.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.76 and a quick ratio of 0.76. Cousins Properties has a 1-year low of $17.40 and a 1-year high of $25.19.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.53). The business had revenue of $197.00 million for the quarter, compared to analyst estimates of $198.47 million. Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, equities analysts predict that Cousins Properties will post 2.62 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, April 4th were issued a $0.32 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.60%. Cousins Properties’s dividend payout ratio is 261.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CUZ shares. StockNews.com raised Cousins Properties from a sell rating to a hold rating in a report on Thursday, April 11th. Truist Financial lowered their price objective on Cousins Properties from $27.00 to $26.00 and set a buy rating for the company in a research report on Tuesday, January 16th. Finally, Barclays lowered their price objective on Cousins Properties from $29.00 to $25.00 and set an overweight rating for the company in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $23.67.

Cousins Properties Company Profile

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.