worth buying post Earnings results? EastGroup Properties (NYSE:EGP)

Earnings results for EastGroup Properties (NYSE:EGP)

EastGroup Properties, Inc. is expected* to report earnings on 04/27/2021 after market close. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 8 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.3900000000000001. The reported EPS for the same quarter last year was $1.31.

EastGroup Properties last released its earnings data on February 8th, 2021. The real estate investment trust reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.33. The firm earned $92.70 million during the quarter, compared to analyst estimates of $93.05 million. Its quarterly revenue was up 7.0% 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 50.4. EastGroup Properties has confirmed that its next quarterly earnings report will be published on Tuesday, April 27th, 2021.

Analyst Opinion on EastGroup Properties (NYSE:EGP)

7 Wall Street analysts have issued ratings and price targets for EastGroup Properties in the last 12 months. Their average twelve-month price target is $141.86, predicting that the stock has a possible downside of 9.26%. The high price target for EGP is $164.00 and the low price target for EGP is $108.00. There are currently 6 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 2.14, and is based on 1 buy rating, 6 hold ratings, and no sell ratings. According to analysts’ consensus price target of $141.86, EastGroup Properties has a forecasted downside of 9.3% from its current price of $156.34. EastGroup Properties has only been the subject of 3 research reports in the past 90 days.

Dividend Strength: EastGroup Properties (NYSE:EGP)

EastGroup Properties pays a meaningful dividend of 2.04%, higher than the bottom 25% of all stocks that pay dividends. EastGroup Properties has been increasing its dividend for 9 years. 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 56.13% 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 not sold or bought any company stock. Only 2.00% of the stock of EastGroup Properties is held by insiders. 92.55% 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 5.04% in the coming year, from $5.36 to $5.63 per share. The P/E ratio of EastGroup Properties is 50.43, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 24.19. The P/E ratio of EastGroup Properties is 50.43, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 23.04. EastGroup Properties has a PEG Ratio of 3.81. PEG Ratios above 1 indicate that a company could be overvalued. EastGroup Properties has a P/B Ratio of 5.06. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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