Vornado Realty Trust reports results for the quarter ended in June - Earnings Summary

Vornado Realty Trust

06/08/2024 06:30

* Vornado Realty Trust  VNO.N  reported quarterly adjusted
earnings of 18 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 14 cents.  The mean expectation of
three analysts for the quarter was for a loss of 6 cents per
share. 
    * Revenue fell 4.7% to $450.27 million from a year ago;
analysts
expected $439.28 million. 
    * Vornado Realty Trust's reported EPS for the quarter was 18
cents​.
    * The company reported quarterly net income of $35.26
million.
    * Vornado Realty Trust shares had risen by 3.7% this
quarter and
lost 3.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.9%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "sell"
and
the breakdown of recommendations is no "strong buy" or "buy," 7
"hold" and 7 "sell" or "strong sell." 
    * The average consensus recommendation for the commercial
reits
peer group is also "sell"

Wall Street's median 12-month price target for Vornado Realty
Trust is $24.00 
This summary was machine generated from LSEG data August 6 at
05:30 a.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      0.54           0.76           Beat
 Mar. 31 2024      0.58           0.53           Missed
 Dec. 31 2023      0.60           0.62           Beat
 Sep. 30 2023      0.65           0.66           Beat