Zacks: Analysts Anticipate SL Green Realty Corp (NYSE:SLG) Will Post Earnings of $1.70 Per Share

Wall Street analysts expect that SL Green Realty Corp (NYSE:SLG) will announce earnings of $1.70 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for SL Green Realty’s earnings. The highest EPS estimate is $1.73 and the lowest is $1.68. SL Green Realty posted earnings of $1.61 per share in the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The business is scheduled to announce its next earnings report on Wednesday, January 22nd.

According to Zacks, analysts expect that SL Green Realty will report full-year earnings of $6.96 per share for the current fiscal year, with EPS estimates ranging from $6.93 to $6.98. For the next fiscal year, analysts anticipate that the firm will report earnings of $6.97 per share, with EPS estimates ranging from $6.84 to $7.06. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow SL Green Realty.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.33). SL Green Realty had a net margin of 15.37% and a return on equity of 3.18%. The business had revenue of $248.03 million during the quarter, compared to analyst estimates of $243.02 million. During the same quarter in the prior year, the company earned $1.69 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year.

Several equities analysts have weighed in on SLG shares. Morgan Stanley dropped their price target on SL Green Realty from $84.50 to $78.00 and set an “underweight” rating for the company in a research report on Tuesday, September 10th. Barclays set a $107.00 price objective on SL Green Realty and gave the company a “buy” rating in a research note on Friday, October 11th. Deutsche Bank decreased their price objective on SL Green Realty from $106.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Goldman Sachs Group began coverage on SL Green Realty in a research report on Friday, November 8th. They set a “buy” rating and a $96.00 price objective for the company. Finally, Robert W. Baird set a $92.00 target price on shares of SL Green Realty and gave the company a “hold” rating in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. SL Green Realty presently has a consensus rating of “Hold” and a consensus target price of $93.49.

Large investors have recently made changes to their positions in the company. CSat Investment Advisory L.P. increased its position in SL Green Realty by 40.4% during the second quarter. CSat Investment Advisory L.P. now owns 594 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 171 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of SL Green Realty in the 1st quarter worth $72,000. Pearl River Capital LLC purchased a new position in shares of SL Green Realty in the 2nd quarter worth $125,000. Oppenheimer Asset Management Inc. purchased a new position in shares of SL Green Realty in the 3rd quarter worth $177,000. Finally, Man Group plc acquired a new position in SL Green Realty in the third quarter valued at $213,000. 97.11% of the stock is owned by institutional investors and hedge funds.

Shares of SL Green Realty stock traded down $0.06 during trading on Thursday, hitting $85.77. 483,051 shares of the company were exchanged, compared to its average volume of 665,670. SL Green Realty has a fifty-two week low of $75.46 and a fifty-two week high of $95.82. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average price of $84.11 and a 200 day moving average price of $82.55. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 3.15 and a beta of 1.07.

About SL Green Realty

SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.

Read More: Index Funds

Get a free copy of the Zacks research report on SL Green Realty (SLG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for SL Green Realty (NYSE:SLG)

Receive News & Ratings for SL Green Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SL Green Realty 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