Boston Properties (NYSE:BXP) Updates FY 2024 Earnings Guidance

by · The Markets Daily

Boston Properties (NYSE:BXP – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 7.090-7.110 for the period, compared to the consensus earnings per share estimate of 7.110. The company issued revenue guidance of -. Boston Properties also updated its FY24 guidance to $7.09-7.11 EPS.

Boston Properties Stock Down 2.6 %

Shares of BXP traded down $2.19 during midday trading on Thursday, hitting $80.56. The stock had a trading volume of 1,875,002 shares, compared to its average volume of 1,270,013. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 0.56 and a beta of 1.18. The company has a 50 day simple moving average of $80.67 and a two-hundred day simple moving average of $69.48. Boston Properties has a twelve month low of $50.64 and a twelve month high of $90.11.

Boston Properties (NYSE:BXP – Get Free Report) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The firm had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. During the same quarter in the previous year, the firm posted $1.86 EPS. The company’s revenue was up 4.2% on a year-over-year basis. On average, analysts anticipate that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 annualized dividend and a yield of 4.87%. Boston Properties’s payout ratio is currently 169.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Scotiabank raised their price objective on Boston Properties from $82.00 to $91.00 and gave the company a “sector outperform” rating in a report on Friday, October 25th. Wedbush boosted their price target on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Evercore ISI increased their price objective on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Wells Fargo & Company raised their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Finally, Compass Point increased their price target on shares of Boston Properties from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $80.75.

Get Our Latest Analysis on Boston Properties

Insiders Place Their Bets

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

About Boston Properties

(Get Free Report)

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.

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