LandBridge (NYSE:LB) Issues Earnings Results

LandBridge (NYSE:LB) posted its quarterly earnings results on Wednesday. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.08), FiscalAI reports. LandBridge had a return on equity of 4.75% and a net margin of 16.49%. The company had revenue of $70.89 million for the quarter, compared to analysts’ expectations of $65.94 million. The company’s revenue was up 39.5% on a year-over-year basis.

LandBridge Stock Down 7.1%

Shares of NYSE:LB traded down $4.93 during midday trading on Thursday, hitting $64.33. 445,059 shares of the stock were exchanged, compared to its average volume of 379,297. The company has a market capitalization of $4.96 billion, a PE ratio of 56.95 and a beta of 0.19. The business’s fifty day simple moving average is $83.60 and its two-hundred day simple moving average is $73.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 7.27 and a current ratio of 7.27. LandBridge has a 52-week low of $43.75 and a 52-week high of $91.69.

LandBridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 25th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. LandBridge’s dividend payout ratio (DPR) is presently 42.48%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler boosted their price target on shares of LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, September 1st. Raymond James Financial reaffirmed an “outperform” rating and issued a $91.00 target price on shares of LandBridge in a report on Monday, October 19th. Citigroup increased their price objective on LandBridge from $66.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 26th. Zacks Research cut LandBridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Finally, Weiss Ratings lowered LandBridge from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, October 27th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.00.

LandBridge Company Profile

LandBridge Company (NYSE: LB) is a landowner and infrastructure-focused real estate company serving the energy and industrial sectors. The company owns and manages large tracts of land in the Permian Basin, primarily in West Texas and southeastern New Mexico, one of the leading oil and natural gas producing regions in the United States.

LandBridge generates revenue by providing access to its properties and related resources. Its activities include surface-use agreements, easements, rights-of-way, water services, mineral and royalty interests, and accommodations for energy, logistics, and infrastructure projects.