Boston Properties (NYSE:BXP) Issues FY 2024 Earnings Guidance

Boston Properties (NYSE:BXP) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 7.090-7.150 for the period, compared to the consensus EPS estimate of 7.050. The company issued revenue guidance of -. Boston Properties also updated its Q3 guidance to $1.80 to $1.82 EPS.

Wall Street Analyst Weigh In

Several research firms have recently commented on BXP. Wedbush reduced their price target on Boston Properties from $66.00 to $63.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Evercore ISI reduced their price target on Boston Properties from $73.00 to $69.00 and set an outperform rating on the stock in a report on Monday, May 6th. BMO Capital Markets reduced their price target on Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a report on Monday, April 8th. Truist Financial cut their price objective on Boston Properties from $75.00 to $67.00 and set a hold rating for the company in a research report on Friday, June 14th. Finally, StockNews.com raised Boston Properties from a sell rating to a hold rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $69.60.

Boston Properties Stock Up 1.9 %

Shares of Boston Properties stock traded up $1.37 on Tuesday, reaching $72.72. 1,752,757 shares of the company were exchanged, compared to its average volume of 1,323,752. Boston Properties has a 1-year low of $50.64 and a 1-year high of $73.97. The company has a market cap of $11.42 billion, a P/E ratio of 59.61, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 4.77. The stock’s 50 day moving average price is $62.79 and its 200-day moving average price is $63.56.

Boston Properties (NYSE:BXP) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.22). The business had revenue of $839.44 million for the quarter, compared to analysts’ expectations of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. Boston Properties’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 EPS. As a group, equities analysts forecast that Boston Properties will post 7.04 EPS for the current year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, June 28th. Boston Properties’s payout ratio is 321.31%.

Boston Properties Company Profile

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.