Brokerages forecast that Boston Properties, Inc. (NYSE:BXP) will post $680.69 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Boston Properties’ earnings, with estimates ranging from $679.38 million to $681.99 million. Boston Properties posted sales of $628.30 million during the same quarter last year, which suggests a positive year over year growth rate of 8.3%. The company is expected to report its next earnings report on Tuesday, October 29th.
On average, analysts expect that Boston Properties will report full-year sales of $2.72 billion for the current financial year, with estimates ranging from $2.72 billion to $2.73 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.78 billion, with estimates ranging from $2.74 billion to $2.86 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Boston Properties.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.68). Boston Properties had a return on equity of 6.80% and a net margin of 18.96%. The company had revenue of $733.74 million during the quarter, compared to the consensus estimate of $725.14 million. During the same quarter last year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year.
A number of research firms recently issued reports on BXP. Morgan Stanley raised shares of Boston Properties from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $123.00 to $126.00 in a research note on Tuesday. They noted that the move was a valuation call. Robert W. Baird set a $152.00 price objective on Boston Properties and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Citigroup reduced their target price on Boston Properties from $142.00 to $131.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $138.04.
Several institutional investors have recently modified their holdings of the stock. Rational Advisors LLC lifted its holdings in shares of Boston Properties by 66.4% during the first quarter. Rational Advisors LLC now owns 203 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Advisory Services Network LLC increased its position in Boston Properties by 112.4% during the 2nd quarter. Advisory Services Network LLC now owns 257 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 136 shares in the last quarter. Doyle Wealth Management purchased a new position in Boston Properties during the second quarter valued at $39,000. CSat Investment Advisory L.P. raised its stake in Boston Properties by 214.8% during the second quarter. CSat Investment Advisory L.P. now owns 340 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 232 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in Boston Properties by 1,804.8% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 379 shares in the last quarter. Institutional investors own 90.58% of the company’s stock.
Shares of NYSE BXP traded up $0.55 during midday trading on Friday, hitting $130.91. 937,131 shares of the company traded hands, compared to its average volume of 678,565. Boston Properties has a 12-month low of $107.84 and a 12-month high of $140.35. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.58 and a current ratio of 4.58. The stock has a 50-day moving average price of $128.95 and a 200 day moving average price of $132.37. The firm has a market cap of $20.05 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.99 and a beta of 0.88.
About Boston Properties
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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