St. Joe (NYSE:JOE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $18.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 16.81% from the stock’s previous close.
According to Zacks, “Shares of St. Joe have outperformed its industry in the past month. Notably, the company's strategy to expand the size and scope of its leasing portfolio as well as resorts and leisure business will likely provide cushion from revenue volatility in other segments. In fact, continued efforts to enhance its leasing portfolio have enabled the company to record encouraging growth in this segment for several consecutive quarters. Also, St. Joe is monetizing non-core assets in a bid to improve its liquidity position. Nonetheless, inconsistent revenue performance in a number of segments and regional business concentration remain concerns for the company.”
Separately, TheStreet lowered shares of St. Joe from a “b-” rating to a “c+” rating in a research report on Monday, September 10th.
JOE traded up $0.10 during midday trading on Tuesday, hitting $15.41. 27,472 shares of the company’s stock traded hands, compared to its average volume of 298,129. The firm has a market cap of $1.03 billion, a PE ratio of -102.73 and a beta of 0.79. St. Joe has a one year low of $15.11 and a one year high of $20.00.
St. Joe (NYSE:JOE) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. St. Joe had a net margin of 56.86% and a return on equity of 1.66%. The firm had revenue of $50.40 million for the quarter, compared to analyst estimates of $26.80 million. As a group, research analysts expect that St. Joe will post 0.09 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of St. Joe in the first quarter valued at approximately $111,000. California Public Employees Retirement System bought a new position in shares of St. Joe in the second quarter valued at approximately $192,000. Verition Fund Management LLC bought a new position in shares of St. Joe in the first quarter valued at approximately $226,000. Xact Kapitalforvaltning AB raised its position in shares of St. Joe by 52.1% in the first quarter. Xact Kapitalforvaltning AB now owns 15,474 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 5,300 shares during the period. Finally, KBC Group NV acquired a new stake in shares of St. Joe in the second quarter worth $338,000. 95.17% of the stock is currently owned by institutional investors.
About St. Joe
The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Florida, the United States. It operates through four segments: Residential Real Estate, Resorts and Leisure, Commercial Leasing and Sales, and Forestry. The Residential Real Estate segment plans and develops residential communities of various sizes.
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