AmeriCold Realty Trust (NYSE:COLD) Trading Down 5.6% Following Weak Earnings

Shares of AmeriCold Realty Trust (NYSE:COLD) dropped 5.6% on Friday following a weaker than expected earnings announcement. The company traded as low as $34.85 and last traded at $35.35, approximately 5,221,707 shares were traded during trading. An increase of 145% from the average daily volume of 2,129,876 shares. The stock had previously closed at $37.44.

The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.17). AmeriCold Realty Trust had a return on equity of 2.77% and a net margin of 1.67%. The company had revenue of $466.18 million during the quarter, compared to analysts’ expectations of $452.64 million. During the same period last year, the firm posted $0.27 EPS. AmeriCold Realty Trust’s quarterly revenue was up 16.0% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, September 27th. AmeriCold Realty Trust’s payout ratio is 67.80%.

A number of equities research analysts recently issued reports on COLD shares. JPMorgan Chase & Co. upped their price target on shares of AmeriCold Realty Trust from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. TheStreet raised shares of AmeriCold Realty Trust from a “d” rating to a “c” rating in a research note on Friday, August 9th. Zacks Investment Research downgraded shares of AmeriCold Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Bank of America reaffirmed a “buy” rating and set a $37.00 price target on shares of AmeriCold Realty Trust in a research note on Thursday, August 15th. Finally, Robert W. Baird upped their price target on shares of AmeriCold Realty Trust from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $37.19.

In other news, Director Kelly Hefner Barrett acquired 6,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $34.96 per share, for a total transaction of $209,760.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Huntington National Bank bought a new position in shares of AmeriCold Realty Trust in the second quarter worth about $28,000. Rehmann Capital Advisory Group grew its holdings in AmeriCold Realty Trust by 316.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 958 shares of the company’s stock worth $31,000 after acquiring an additional 728 shares in the last quarter. QCI Asset Management Inc. NY bought a new position in AmeriCold Realty Trust during the 2nd quarter worth about $54,000. Price Capital Management Inc. bought a new position in AmeriCold Realty Trust during the 3rd quarter worth about $63,000. Finally, Optimum Investment Advisors bought a new position in AmeriCold Realty Trust during the 3rd quarter worth about $74,000.

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The company’s fifty day simple moving average is $37.82 and its 200-day simple moving average is $34.64. The company has a market capitalization of $6.90 billion, a P/E ratio of 29.96, a PEG ratio of 3.12 and a beta of 0.67.

About AmeriCold Realty Trust (NYSE:COLD)

Americold is the world's largest owner and operator of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 155 temperature-controlled warehouses, with approximately 918.7 million refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina.

Read More: What does relative strength index mean?

Receive News & Ratings for AmeriCold Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmeriCold Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit