Is the Options Market Predicting a Spike in Alexander & Baldwin (ALEX) Stock?
Investors need to pay close attention to Alexander & Baldwin (ALEX) stock based on the movements in the options market lately.
Alexander & Baldwin Holdings, Inc. (ALEX) Now Trades Above Golden Cross: Time to Buy?
From a technical perspective, Alexander & Baldwin Holdings, Inc. (ALEX) is looking like an interesting pick, as it just reached a key level of support. ALEX's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
Alexander & Baldwin, Inc. (ALEX) Q2 2024 Earnings Call Transcript
Alexander & Baldwin, Inc. (NYSE:ALEX ) Q2 2024 Earnings Conference Call July 25, 2024 5:00 PM ET Company Participants Brandon Myers - Investment Manager Lance Parker - CEO Clayton Chun - CFO Conference Call Participants Alexander Goldfarb - Piper Sandler Rob Stevenson - Janney Mitch Germain - Citizens JMP Brendan McCarthy - Sidoti Operator Good day, and welcome to the Second Quarter 2024 Alexander & Baldwin Earnings Conference Call. At this time, all lines are in listen-only mode.
Alexander & Baldwin Holdings (ALEX) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Although the revenue and EPS for Alexander & Baldwin Holdings (ALEX) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Alexander & Baldwin Holdings, Inc. (ALEX) Q2 FFO and Revenues Top Estimates
Alexander & Baldwin Holdings, Inc. (ALEX) came out with quarterly funds from operations (FFO) of $0.28 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to FFO of $0.29 per share a year ago.
Alexander & Baldwin: An Attractive Valuation If You Don't Mind The Low Leverage
Alexander & Baldwin is a diversified REIT with heavy retail exposure, exclusively concentrated in Hawaii. An opportunistic land sale boosted Q1 2024 AFFO. Net operating income likewise increased 4.1% Y/Y. Net debt accounts for only 27% of enterprise value - perhaps an amount too low if we are at the bottom of the real estate cycle.
Natixis Advisors L.P. Acquires Shares of 14,622 Alexander & Baldwin, Inc. (NYSE:ALEX)
Natixis Advisors L.P. acquired a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,622 shares of the financial services provider’s stock, valued at approximately $278,000. Several other large investors have also made changes to their positions in ALEX. Federated Hermes Inc. boosted its holdings in Alexander & Baldwin by 88.5% in the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,240 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Alexander & Baldwin by 46.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 1,114 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Alexander & Baldwin by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 10,165 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 1,672 shares in the last quarter. Everett Harris & Co. CA purchased a new stake in shares of Alexander & Baldwin during the fourth quarter worth approximately $195,000. Finally, Duality Advisers LP acquired a new position in Alexander & Baldwin in the 4th quarter valued at $199,000. 91.29% of the stock is owned by institutional investors and hedge funds. Alexander & Baldwin Stock Down 0.8 % Shares of ALEX opened at $17.00 on Monday. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $19.99. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $16.31 and a two-hundred day simple moving average of $17.05. The company has a market capitalization of $1.23 billion, a PE ratio of 27.87 and a beta of 1.21. Alexander & Baldwin (NYSE:ALEX – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $61.20 million during the quarter, compared to analysts’ expectations of $51.55 million. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. During the same period last year, the business earned $0.29 earnings per share. As a group, equities analysts forecast that Alexander & Baldwin, Inc. will post 1.14 EPS for the current year. Alexander & Baldwin Cuts Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be issued a $0.222 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio is presently 145.90%. Wall Street Analysts Forecast Growth A number of equities research analysts have recently issued reports on the stock. Piper Sandler dropped their target price on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. TheStreet downgraded shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.50. Read Our Latest Research Report on ALEX About Alexander & Baldwin (Free Report) Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets. See Also Five stocks we like better than Alexander & Baldwin Are These Liquid Natural Gas Stocks Ready For An Upside Bounce? MarketBeat Week in Review – 5/13 – 5/17 ETF Screener: Uses and Step-by-Step Guide Take-Two Interactive Software Offers 2nd Chance for Investors 3 Best Fintech Stocks for a Portfolio Boost Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
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