CBL & Associates Properties (CBL) Releases FY 2018 Earnings Guidance

CBL & Associates Properties (NYSE:CBL) issued an update on its FY 2018 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.70-1.80 for the period. CBL & Associates Properties also updated its FY18 guidance to $1.70-1.80 EPS.

Shares of NYSE:CBL traded down $0.24 on Tuesday, hitting $3.32. The company’s stock had a trading volume of 121,575 shares, compared to its average volume of 4,194,813. CBL & Associates Properties has a 12 month low of $3.21 and a 12 month high of $8.04. The stock has a market cap of $574.98 million, a price-to-earnings ratio of 1.60, a PEG ratio of -0.64 and a beta of 0.96. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.51 and a current ratio of 0.51.

CBL & Associates Properties (NYSE:CBL) last announced its earnings results on Monday, October 29th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.39). CBL & Associates Properties had a net margin of 2.52% and a return on equity of 1.76%. The firm had revenue of $206.88 million for the quarter, compared to the consensus estimate of $209.53 million. During the same period in the prior year, the business earned $0.50 EPS. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts predict that CBL & Associates Properties will post 1.74 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 16th. Investors of record on Monday, October 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $0.80 annualized dividend and a yield of 24.10%. CBL & Associates Properties’s dividend payout ratio is currently 38.46%.

Several brokerages recently weighed in on CBL. ValuEngine raised CBL & Associates Properties from a strong sell rating to a sell rating in a research note on Tuesday. Bank of America decreased their target price on CBL & Associates Properties from $4.50 to $4.00 and set an underperform rating for the company in a research note on Monday, August 13th. BTIG Research cut CBL & Associates Properties from a neutral rating to a sell rating in a research note on Tuesday, August 7th. Zacks Investment Research raised CBL & Associates Properties from a sell rating to a hold rating in a research note on Friday, August 3rd. Finally, Stifel Nicolaus raised their target price on CBL & Associates Properties from $4.25 to $4.75 and gave the company a hold rating in a research note on Thursday, August 2nd. Ten equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company presently has a consensus rating of Sell and a consensus price target of $4.19.

About CBL & Associates Properties

CBL & Associates Properties, Inc is a real estate investment trust, which owns and operates retail properties. The firm engages in owning, developing, acquiring, leasing, managing and operating regional shopping malls, open-air centers, community centers and office properties. It operates through Malls and All Other segments.

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Earnings History and Estimates for CBL & Associates Properties (NYSE:CBL)

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