Will earnings report, end it’s winning streak? Eastgroup Properties (NYSE:EGP)

Earnings results for Eastgroup Properties (NYSE:EGP)

EastGroup Properties, Inc. is expected* to report earnings on 10/27/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.33. The reported EPS for the same quarter last year was $1.28.

Eastgroup Properties last posted its earnings results on July 28th, 2020. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the consensus estimate of $1.27 by $0.67. The business earned $89.72 million during the quarter, compared to the consensus estimate of $88.63 million. Its revenue for the quarter was up 9.3% on a year-over-year basis. Eastgroup Properties has generated $4.98 earnings per share over the last year and currently has a price-to-earnings ratio of 44.1. Eastgroup Properties has confirmed that its next quarterly earnings report will be published on Tuesday, October 27th, 2020.

Analyst Opinion on Eastgroup Properties (NYSE:EGP)

8 Wall Street analysts have issued ratings and price targets for Eastgroup Properties in the last 12 months. Their average twelve-month price target is $132.75, predicting that the stock has a possible downside of 2.18%. The high price target for EGP is $144.00 and the low price target for EGP is $108.00. There are currently 7 hold ratings and 1 buy rating for the stock, resulting in a consensus rating of “Hold.”

Eastgroup Properties has received a consensus rating of Hold. The company’s average rating score is 2.13, and is based on 1 buy rating, 7 hold ratings, and no sell ratings. According to analysts’ consensus price target of $132.75, Eastgroup Properties has a forecasted downside of 2.2% from its current price of $135.71. Eastgroup Properties has only been the subject of 4 research reports in the past 90 days.

Dividend Strength: Eastgroup Properties (NYSE:EGP)

Eastgroup Properties pays a meaningful dividend of 2.29%, higher than the bottom 25% of all stocks that pay dividends. Eastgroup Properties does not have a long track record of dividend growth. The dividend payout ratio of Eastgroup Properties is 63.45%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Eastgroup Properties will have a dividend payout ratio of 57.45% next year. This indicates that Eastgroup Properties will be able to sustain or increase its dividend.

Insiders buying/selling: Eastgroup Properties (NYSE:EGP)

In the past three months, Eastgroup Properties insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $472,320.00 in company stock. Only 2.00% of the stock of Eastgroup Properties is held by insiders. 92.48% of the stock of Eastgroup Properties is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Eastgroup Properties (NYSE:EGP

Earnings for Eastgroup Properties are expected to grow by 3.58% in the coming year, from $5.31 to $5.50 per share. The P/E ratio of Eastgroup Properties is 44.06, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 19.34. The P/E ratio of Eastgroup Properties is 44.06, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 18.21. Eastgroup Properties has a PEG Ratio of 5.22. PEG Ratios above 1 indicate that a company could be overvalued. Eastgroup Properties has a P/B Ratio of 4.39. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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