Eastgroup Properties Inc reports results for the quarter ended in June - Earnings Summary

EastGroup Properties

23/07/2024 22:51

* Eastgroup Properties Inc  EGP.N  reported quarterly
adjusted
earnings of $1.14​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 97 cents.  The mean expectation of
eight analysts for the quarter was for earnings of $1.10 per
share. Wall Street expected results to range from $1.08 
to $1.11 per share.
    * Revenue rose 13.7% to $159.09 million from a year ago;
analysts
expected $156.62 million. 
    * Eastgroup Properties Inc's reported EPS for the quarter
was
$1.14​.
    * The company reported quarterly net income of $55.29
million.
    * Eastgroup Properties Inc shares had risen by 12.5% this
quarter and gained 4.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 12
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the commercial
reits
peer group is also "buy"

Wall Street's median 12-month price target for Eastgroup
Properties Inc is $177.50 
This summary was machine generated from LSEG data July 23 at
09:51 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      2.05           2.09           Beat
 Mar. 31 2024      2.01           1.98           Missed
 Dec. 31 2023      2.01           2.03           Beat
 Sep. 30 2023      1.93           2.00           Beat