Zacks: Analysts Anticipate CBL & Associates Properties, Inc. (NYSE:CBL) to Post $0.35 EPS

Wall Street brokerages forecast that CBL & Associates Properties, Inc. (NYSE:CBL) will announce $0.35 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for CBL & Associates Properties’ earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.33. CBL & Associates Properties reported earnings of $0.40 per share during the same quarter last year, which suggests a negative year over year growth rate of 12.5%. The firm is expected to report its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that CBL & Associates Properties will report full-year earnings of $1.39 per share for the current fiscal year, with EPS estimates ranging from $1.33 to $1.43. For the next financial year, analysts forecast that the business will post earnings of $1.32 per share, with EPS estimates ranging from $1.17 to $1.41. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow CBL & Associates Properties.

CBL & Associates Properties (NYSE:CBL) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.55). The company had revenue of $193.38 million for the quarter, compared to analyst estimates of $188.72 million. CBL & Associates Properties had a negative return on equity of 9.49% and a negative net margin of 14.34%.

A number of brokerages have weighed in on CBL. Barclays reaffirmed a “hold” rating and issued a $2.00 target price on shares of CBL & Associates Properties in a report on Tuesday, April 16th. Zacks Investment Research downgraded CBL & Associates Properties from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. Wells Fargo & Co reaffirmed a “sell” rating on shares of CBL & Associates Properties in a report on Wednesday, June 26th. BTIG Research raised CBL & Associates Properties from a “sell” rating to a “neutral” rating and set a $0.82 target price on the stock in a report on Friday, May 31st. Finally, ValuEngine raised CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Thursday. Six analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and a consensus price target of $2.60.

NYSE:CBL traded down $0.02 during trading hours on Friday, reaching $0.95. 3,395 shares of the company were exchanged, compared to its average volume of 2,306,212. The firm has a 50 day moving average of $1.05. The firm has a market capitalization of $166.54 million, a P/E ratio of 0.55, a P/E/G ratio of -0.25 and a beta of 1.50. CBL & Associates Properties has a 1-year low of $0.77 and a 1-year high of $5.79. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.36 and a quick ratio of 0.36.

Institutional investors and hedge funds have recently made changes to their positions in the company. Parsec Financial Management Inc. lifted its stake in shares of CBL & Associates Properties by 55.0% in the 1st quarter. Parsec Financial Management Inc. now owns 105,730 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 37,500 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in CBL & Associates Properties during the 1st quarter worth $46,000. Geode Capital Management LLC raised its position in CBL & Associates Properties by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 2,290,809 shares of the real estate investment trust’s stock worth $4,397,000 after purchasing an additional 154,764 shares during the last quarter. Eqis Capital Management Inc. raised its position in CBL & Associates Properties by 65.9% during the 1st quarter. Eqis Capital Management Inc. now owns 38,647 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 15,345 shares during the last quarter. Finally, Norges Bank bought a new position in CBL & Associates Properties during the 4th quarter worth $3,951,000. Institutional investors own 76.84% of the company’s stock.

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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