Zacks: Analysts Expect GGP Inc. (GGP) Will Post Earnings of $0.37 Per Share

Wall Street brokerages forecast that GGP Inc. (NYSE:GGP) will post earnings of $0.37 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for GGP’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.37. GGP reported earnings of $0.36 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The firm is expected to report its next earnings results before the market opens on Thursday, May 3rd.

On average, analysts expect that GGP will report full-year earnings of $1.57 per share for the current year, with EPS estimates ranging from $1.54 to $1.59. For the next year, analysts anticipate that the company will post earnings of $1.65 per share, with EPS estimates ranging from $1.63 to $1.69. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover GGP.

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GGP (NYSE:GGP) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. GGP had a net margin of 28.24% and a return on equity of 7.87%. The firm had revenue of $627.40 million for the quarter, compared to analyst estimates of $646.14 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year.

GGP has been the topic of several analyst reports. Zacks Investment Research lowered shares of GGP from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Barclays dropped their price target on shares of GGP from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. ValuEngine lowered shares of GGP from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Sandler O’Neill lowered shares of GGP from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Boenning Scattergood set a $35.00 price target on shares of GGP and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.92.

NYSE GGP traded down $0.42 on Thursday, hitting $19.90. 8,485,961 shares of the stock were exchanged, compared to its average volume of 5,369,540. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.51. GGP has a 52 week low of $18.83 and a 52 week high of $24.37. The firm has a market capitalization of $19,446.59, a P/E ratio of 12.68 and a beta of 0.90.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Thursday, April 12th. GGP’s payout ratio is presently 56.05%.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of GGP by 0.8% in the fourth quarter. BlackRock Inc. now owns 59,827,593 shares of the real estate investment trust’s stock valued at $1,399,367,000 after purchasing an additional 450,895 shares during the period. Bank of New York Mellon Corp raised its position in shares of GGP by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 13,034,573 shares of the real estate investment trust’s stock valued at $304,882,000 after purchasing an additional 673,647 shares during the period. Daiwa Securities Group Inc. raised its position in shares of GGP by 26.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,470,204 shares of the real estate investment trust’s stock valued at $198,118,000 after purchasing an additional 1,796,712 shares during the period. Geode Capital Management LLC raised its position in shares of GGP by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 7,753,010 shares of the real estate investment trust’s stock valued at $181,012,000 after purchasing an additional 337,592 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of GGP by 8.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 5,995,123 shares of the real estate investment trust’s stock valued at $140,226,000 after purchasing an additional 475,079 shares during the period. 95.84% of the stock is currently owned by institutional investors.

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About GGP

GGP Inc is an S&P 500 company focused exclusively on owning, managing, leasing and redeveloping high-quality retail properties throughout the United States. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.

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Earnings History and Estimates for GGP (NYSE:GGP)

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