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

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

Boston Properties Stock Up 1.9 %

Shares of BXP stock traded up $1.37 during mid-day trading on Tuesday, reaching $72.72. 1,752,757 shares of the company were exchanged, compared to its average volume of 1,323,752. The company has a debt-to-equity ratio of 1.91, a quick ratio of 4.77 and a current ratio of 4.77. The business’s 50 day simple moving average is $62.59 and its 200 day simple moving average is $63.54. The company has a market capitalization of $11.42 billion, a P/E ratio of 59.61, a P/E/G ratio of 0.46 and a beta of 1.18. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $73.97.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data 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). Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. The company had revenue of $839.44 million for the quarter, compared to analyst estimates of $808.68 million. During the same period in the prior year, the business earned $1.73 earnings per share. Boston Properties’s revenue was up 4.5% on a year-over-year basis. Research analysts predict that Boston Properties will post 7.04 earnings per share for the current year.

Boston Properties Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wedbush decreased their price objective on shares of Boston Properties from $66.00 to $63.00 and set a neutral rating for the company in a report on Thursday, May 2nd. StockNews.com raised Boston Properties from a sell rating to a hold rating in a report on Tuesday, July 23rd. Truist Financial cut their price target on Boston Properties from $75.00 to $67.00 and set a hold rating on the stock in a report on Friday, June 14th. BMO Capital Markets lowered their price objective on Boston Properties from $80.00 to $78.00 and set an outperform rating for the company in a research note on Monday, April 8th. Finally, Barclays cut their target price on Boston Properties from $66.00 to $65.00 and set an equal weight rating on the stock in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $69.60.

About Boston Properties

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.