Zacks: Brokerages Anticipate Vornado Realty Trust (VNO) Will Announce Earnings of $0.96 Per Share

Brokerages predict that Vornado Realty Trust (NYSE:VNO) will report earnings per share (EPS) of $0.96 for the current quarter, according to Zacks. Eight analysts have issued estimates for Vornado Realty Trust’s earnings. The lowest EPS estimate is $0.91 and the highest is $1.02. Vornado Realty Trust posted earnings per share of $0.30 in the same quarter last year, which suggests a positive year-over-year growth rate of 220%. The company is scheduled to announce its next quarterly earnings report on Monday, February 12th.

According to Zacks, analysts expect that Vornado Realty Trust will report full-year earnings of $3.92 per share for the current fiscal year, with EPS estimates ranging from $3.86 to $3.98. For the next year, analysts expect that the company will post earnings of $3.92 per share, with EPS estimates ranging from $3.61 to $4.12. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Vornado Realty Trust.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.90. Vornado Realty Trust had a return on equity of 4.73% and a net margin of 35.23%. The business had revenue of $528.76 million during the quarter, compared to analysts’ expectations of $545.53 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis.

Several equities analysts have weighed in on VNO shares. Zacks Investment Research upgraded Vornado Realty Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 13th. Sandler O’Neill reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Vornado Realty Trust in a research note on Tuesday, September 26th. Morgan Stanley raised Vornado Realty Trust from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $81.00 to $84.00 in a research note on Tuesday, October 10th. Barclays reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Vornado Realty Trust in a research note on Thursday, October 19th. Finally, JPMorgan Chase & Co. lowered Vornado Realty Trust from an “overweight” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Friday, December 15th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Vornado Realty Trust currently has an average rating of “Hold” and an average target price of $91.75.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VNO. BlackRock Inc. grew its stake in Vornado Realty Trust by 2.9% during the 2nd quarter. BlackRock Inc. now owns 16,394,729 shares of the real estate investment trust’s stock worth $1,539,465,000 after buying an additional 461,768 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Vornado Realty Trust by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,172 shares of the real estate investment trust’s stock worth $558,195,000 after buying an additional 1,352,088 shares during the last quarter. Northern Trust Corp grew its stake in Vornado Realty Trust by 1.3% during the 2nd quarter. Northern Trust Corp now owns 2,763,777 shares of the real estate investment trust’s stock worth $259,519,000 after buying an additional 35,361 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Vornado Realty Trust by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,456,239 shares of the real estate investment trust’s stock worth $188,837,000 after acquiring an additional 55,423 shares during the period. Finally, Franklin Resources Inc. lifted its position in Vornado Realty Trust by 767.3% during the 2nd quarter. Franklin Resources Inc. now owns 2,126,678 shares of the real estate investment trust’s stock worth $199,694,000 after acquiring an additional 1,881,473 shares during the period. Institutional investors own 86.00% of the company’s stock.

Vornado Realty Trust (NYSE:VNO) traded up $0.11 during trading hours on Thursday, hitting $78.18. The company had a trading volume of 527,674 shares, compared to its average volume of 1,147,915. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.26 and a quick ratio of 0.26. Vornado Realty Trust has a 12-month low of $71.89 and a 12-month high of $111.72. The stock has a market capitalization of $14,844.66, a PE ratio of 19.16, a P/E/G ratio of 4.70 and a beta of 0.99.

WARNING: “Zacks: Brokerages Anticipate Vornado Realty Trust (VNO) Will Announce Earnings of $0.96 Per Share” was posted by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://transcriptdaily.com/2017/12/31/zacks-brokerages-anticipate-vornado-realty-trust-vno-will-announce-earnings-of-0-96-per-share.html.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.

Get a free copy of the Zacks research report on Vornado Realty Trust (VNO)

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

Earnings History and Estimates for Vornado Realty Trust (NYSE:VNO)

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

Leave a Reply