Cousins Properties Inc (NYSE:CUZ) Expected to Post Earnings of $0.66 Per Share

Wall Street analysts expect that Cousins Properties Inc (NYSE:CUZ) will post $0.66 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cousins Properties’ earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.38. Cousins Properties posted earnings per share of $0.60 during the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The company is expected to issue its next earnings results after the market closes on Wednesday, July 24th.

On average, analysts expect that Cousins Properties will report full-year earnings of $2.80 per share for the current year, with EPS estimates ranging from $2.27 to $2.93. For the next fiscal year, analysts expect that the firm will post earnings of $2.88 per share, with EPS estimates ranging from $2.81 to $2.96. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Cousins Properties.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $123.30 million for the quarter, compared to analyst estimates of $122.55 million. Cousins Properties had a net margin of 20.18% and a return on equity of 3.49%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS.

Several analysts have issued reports on CUZ shares. Zacks Investment Research upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, March 7th. Bank of America set a $11.00 price target on shares of Cousins Properties and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, ValuEngine upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Cousins Properties has a consensus rating of “Buy” and a consensus price target of $10.67.

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of Cousins Properties by 11.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,373 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,255 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Cousins Properties by 3.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 298,964 shares of the real estate investment trust’s stock valued at $2,362,000 after acquiring an additional 10,200 shares in the last quarter. Trustcore Financial Services LLC acquired a new stake in shares of Cousins Properties during the 1st quarter valued at about $46,000. UBS Oconnor LLC acquired a new stake in shares of Cousins Properties during the 4th quarter valued at about $4,479,000. Finally, New York State Common Retirement Fund boosted its position in shares of Cousins Properties by 2.4% during the 1st quarter. New York State Common Retirement Fund now owns 977,807 shares of the real estate investment trust’s stock valued at $9,446,000 after acquiring an additional 22,911 shares in the last quarter.

NYSE CUZ opened at $36.17 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.40. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 3.24 and a beta of 0.96. The stock has a fifty day moving average of $16.10. Cousins Properties has a 52-week low of $30.12 and a 52-week high of $40.40.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Wednesday, July 3rd will be given a dividend of $0.29 per share. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.07. This represents a $1.16 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, July 2nd. Cousins Properties’s payout ratio is 46.03%.

About Cousins Properties

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.

Featured Story: Terms to Better Understand Call Options

Get a free copy of the Zacks research report on Cousins Properties (CUZ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cousins Properties (NYSE:CUZ)

Receive News & Ratings for Cousins Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cousins Properties and related companies with MarketBeat.com's FREE daily email newsletter.