Cousins Properties (NYSE:CUZ) Issues FY 2024 Earnings Guidance

Cousins Properties (NYSE:CUZ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.660-2.700 for the period, compared to the consensus EPS estimate of 2.670. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.66-2.70 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CUZ. Barclays lifted their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Robert W. Baird lifted their price target on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial lifted their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Evercore ISI lifted their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised their price objective on shares of Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

Cousins Properties Stock Up 0.4 %

CUZ stock traded up $0.13 during midday trading on Thursday, hitting $31.38. The company’s stock had a trading volume of 1,086,333 shares, compared to its average volume of 1,302,097. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. Cousins Properties has a twelve month low of $17.40 and a twelve month high of $31.98. The company’s fifty day moving average price is $29.16 and its 200 day moving average price is $25.69. The stock has a market capitalization of $4.77 billion, a P/E ratio of 64.04, a PEG ratio of 4.41 and a beta of 1.30.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.61). The business had revenue of $212.98 million during the quarter, compared to analyst estimates of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.75 earnings per share. As a group, equities research analysts predict that Cousins Properties will post 2.67 EPS for the current year.

Cousins Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.32 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.08%. Cousins Properties’s dividend payout ratio is presently 261.22%.

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the transaction, the chief accounting officer now directly owns 12,529 shares in the company, valued at $352,440.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by company insiders.

About Cousins Properties

Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.