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

EastGroup Properties

23/04/2024 22:01

* Eastgroup Properties Inc  EGP.N  reported quarterly
adjusted
earnings of $1.22​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of $1.02.  The mean expectation of eight analysts
for the quarter was for earnings of $1.05 per share. Wall Street
expected results to range from $1.02  to $1.08 per share.
    * Revenue rose 14.2% to $154.22 million from a year ago;
analysts
expected $152.17 million. 
    * Eastgroup Properties Inc's reported EPS for the quarter
was
$1.22​.
    * The company reported quarterly net income of $58.64
million.
    * Eastgroup Properties Inc shares had fallen by 9.1% this
quarter and lost 11.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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," 11
"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 $190.00 
This summary was machine generated from LSEG data April 23 at
09:01 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
 Mar. 31 2024      2.01           1.98           Missed
 Dec. 31 2023      2.01           2.03           Beat
 Sep. 30 2023      1.93           2.00           Beat
 Jun. 30 2023      1.88           1.91           Beat