CBL & Associates Properties, Inc. (NYSE:CBL) Expected to Post Quarterly Sales of $187.62 Million

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Wall Street brokerages expect CBL & Associates Properties, Inc. (NYSE:CBL) to post $187.62 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for CBL & Associates Properties’ earnings, with the highest sales estimate coming in at $193.72 million and the lowest estimate coming in at $183.13 million. CBL & Associates Properties reported sales of $206.88 million in the same quarter last year, which indicates a negative year-over-year growth rate of 9.3%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, October 31st.

According to Zacks, analysts expect that CBL & Associates Properties will report full-year sales of $776.32 million for the current year, with estimates ranging from $746.84 million to $815.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $749.48 million, with estimates ranging from $716.54 million to $800.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow CBL & Associates Properties.

CBL & Associates Properties (NYSE:CBL) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.55). CBL & Associates Properties had a negative net margin of 14.76% and a negative return on equity of 10.14%. The firm had revenue of $193.38 million during the quarter, compared to analyst estimates of $188.72 million.

A number of equities research analysts have recently weighed in on the company. ValuEngine raised CBL & Associates Properties from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. BTIG Research raised CBL & Associates Properties from a “sell” rating to a “neutral” rating and set a $0.82 price target for the company in a research report on Friday, May 31st. Wells Fargo & Co reaffirmed a “sell” rating on shares of CBL & Associates Properties in a research report on Wednesday, June 26th. Finally, Zacks Investment Research lowered CBL & Associates Properties from a “hold” rating to a “sell” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $1.71.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBL. First Republic Investment Management Inc. grew its stake in CBL & Associates Properties by 8.2% during the 2nd quarter. First Republic Investment Management Inc. now owns 939,907 shares of the real estate investment trust’s stock valued at $978,000 after acquiring an additional 71,389 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in CBL & Associates Properties by 14.6% during the second quarter. Commonwealth Equity Services LLC now owns 158,547 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 20,141 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in CBL & Associates Properties by 92.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 209,479 shares of the real estate investment trust’s stock worth $218,000 after purchasing an additional 100,400 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in CBL & Associates Properties by 22.4% during the first quarter. BNP Paribas Arbitrage SA now owns 65,191 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 11,948 shares during the last quarter. Finally, Parsec Financial Management Inc. lifted its stake in CBL & Associates Properties by 14.2% during the second quarter. Parsec Financial Management Inc. now owns 120,730 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 15,000 shares during the last quarter. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CBL stock traded up $0.02 during trading hours on Thursday, reaching $1.20. The company had a trading volume of 2,709,035 shares, compared to its average volume of 3,073,588. CBL & Associates Properties has a 12 month low of $0.77 and a 12 month high of $4.44. The company has a debt-to-equity ratio of 4.21, a current ratio of 0.41 and a quick ratio of 0.41. The business has a fifty day simple moving average of $0.95 and a 200-day simple moving average of $1.19. The company has a market cap of $204.70 million, a price-to-earnings ratio of 0.69, a price-to-earnings-growth ratio of -0.30 and a beta of 1.54.

CBL & Associates Properties Company Profile

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 114 properties totaling 71.1 million square feet across 26 states, including 71 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties.

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Earnings History and Estimates for CBL & Associates Properties (NYSE:CBL)

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