Broadstone Net Lease (NYSE:BNL) Updates FY 2024 Earnings Guidance

Broadstone Net Lease (NYSE:BNL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.410-1.430 for the period, compared to the consensus earnings per share estimate of 1.480. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Wedbush started coverage on Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of “Hold” and a consensus target price of $18.25.

Broadstone Net Lease Trading Up 0.7 %

Shares of BNL stock traded up $0.12 on Wednesday, hitting $18.12. 1,302,610 shares of the stock were exchanged, compared to its average volume of 1,155,292. The business has a 50-day moving average of $18.40 and a 200 day moving average of $16.80. Broadstone Net Lease has a fifty-two week low of $13.91 and a fifty-two week high of $19.15. The firm has a market capitalization of $3.42 billion, a P/E ratio of 21.83 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $105.91 million for the quarter, compared to the consensus estimate of $105.95 million. Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. During the same period in the prior year, the business earned $0.35 earnings per share. As a group, research analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

About Broadstone Net Lease

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.