St. Joe Company (The) (NYSE:JOE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, July 14th. The firm presently has a $21.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.25% from the stock’s current price.
According to Zacks, “Shares of St. Joe outperformed the Zacks categorized Real Estate Development industry over the past three months. Estimates have been stable lately ahead of the company’s second-quarter earnings release. The company has positive record of earnings surprises in recent quarters. Notably, the company is making strategic efforts to enhance the size of its leasing portfolio while opting to sell commercial property selectively. As part of such efforts, following first-quarter 2017, the company accomplished purchase of two office buildings in Panama City Beach, FL, aggregating more than 67,000 rentable square feet. Also, the joint venture with HomeCorp for 240 apartment units is in sync with this strategy. Further, St. Joe is aiming for growth of its resorts and leisure business. However, volatility in sales revenues at real estate and timber lines remain a concern. Also, regional business concentration increases its risks.”
Separately, BidaskClub upgraded St. Joe Company (The) from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd.
Shares of St. Joe Company (NYSE JOE) opened at 19.40 on Friday. St. Joe Company has a 52 week low of $16.30 and a 52 week high of $21.90. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 69.53 and a beta of 0.91. The stock’s 50 day moving average price is $18.51 and its 200-day moving average price is $17.59.
St. Joe Company (The) (NYSE:JOE) last announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.11. St. Joe Company (The) had a return on equity of 3.08% and a net margin of 23.02%. The business had revenue of $30.40 million during the quarter. Equities analysts anticipate that St. Joe Company will post $0.03 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG raised its position in St. Joe Company (The) by 4.9% in the first quarter. UBS Group AG now owns 6,203 shares of the financial services provider’s stock valued at $106,000 after buying an additional 289 shares during the period. BNP Paribas Arbitrage SA raised its position in St. Joe Company (The) by 207.3% in the second quarter. BNP Paribas Arbitrage SA now owns 5,987 shares of the financial services provider’s stock valued at $112,000 after buying an additional 4,039 shares during the period. SG Americas Securities LLC acquired a new stake in shares of St. Joe Company (The) during the second quarter valued at about $114,000. Cutler Group LP acquired a new stake in shares of St. Joe Company (The) during the second quarter valued at about $150,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of St. Joe Company (The) by 0.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,676 shares of the financial services provider’s stock valued at $199,000 after buying an additional 37 shares in the last quarter. Institutional investors own 94.15% of the company’s stock.
St. Joe Company (The) Company Profile
The St. Joe Company is a real estate development, asset management and operating company. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. Its residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land.
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