CBL & Associates Properties, Inc. (CBL) Expected to Post Quarterly Sales of $198.95 Million

Wall Street brokerages expect that CBL & Associates Properties, Inc. (NYSE:CBL) will report $198.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CBL & Associates Properties’ earnings. The highest sales estimate is $203.42 million and the lowest is $190.47 million. CBL & Associates Properties posted sales of $220.20 million during the same quarter last year, which suggests a negative year over year growth rate of 9.7%. The company is expected to report its next earnings results after the market closes on Tuesday, April 30th.

According to Zacks, analysts expect that CBL & Associates Properties will report full-year sales of $785.44 million for the current fiscal year, with estimates ranging from $749.60 million to $821.63 million. For the next year, analysts anticipate that the company will report sales of $778.80 million, with estimates ranging from $736.56 million to $819.72 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow CBL & Associates Properties.

CBL & Associates Properties (NYSE:CBL) last posted its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $216.90 million for the quarter, compared to analysts’ expectations of $216.50 million. CBL & Associates Properties had a negative return on equity of 6.84% and a negative net margin of 9.33%. The business’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS.

A number of analysts have recently commented on the company. Zacks Investment Research cut CBL & Associates Properties from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. ValuEngine raised CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Wells Fargo & Co reissued a “sell” rating on shares of CBL & Associates Properties in a research report on Tuesday, February 12th. Barclays reissued a “hold” rating and issued a $3.00 price target on shares of CBL & Associates Properties in a research report on Thursday, March 14th. Finally, Stifel Nicolaus reissued a “neutral” rating on shares of CBL & Associates Properties in a research report on Monday, February 11th. Seven equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. CBL & Associates Properties currently has a consensus rating of “Sell” and a consensus target price of $3.29.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in CBL & Associates Properties by 2.2% in the 4th quarter. BlackRock Inc. now owns 29,701,312 shares of the real estate investment trust’s stock worth $57,026,000 after acquiring an additional 648,458 shares during the last quarter. Vanguard Group Inc. raised its holdings in CBL & Associates Properties by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 25,690,730 shares of the real estate investment trust’s stock worth $102,506,000 after acquiring an additional 326,710 shares during the last quarter. Vanguard Group Inc raised its holdings in CBL & Associates Properties by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 25,690,730 shares of the real estate investment trust’s stock worth $102,506,000 after acquiring an additional 326,710 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in CBL & Associates Properties by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,851,881 shares of the real estate investment trust’s stock worth $15,369,000 after acquiring an additional 116,409 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in CBL & Associates Properties by 63.1% in the 4th quarter. Mackenzie Financial Corp now owns 3,172,300 shares of the real estate investment trust’s stock worth $6,091,000 after acquiring an additional 1,227,300 shares during the last quarter. Institutional investors own 77.92% of the company’s stock.

Shares of CBL traded down $0.07 during mid-day trading on Friday, reaching $1.39. The company had a trading volume of 2,300,962 shares, compared to its average volume of 3,205,836. CBL & Associates Properties has a 52 week low of $1.35 and a 52 week high of $6.26. The stock has a market cap of $249.52 million, a P/E ratio of 0.80, a P/E/G ratio of -0.28 and a beta of 1.43.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.30 dividend on an annualized basis and a yield of 21.58%. CBL & Associates Properties’s payout ratio is currently 17.34%.

CBL & Associates Properties Company Profile

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 115 properties totaling 71.5 million square feet across 26 states, including 72 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties.

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Earnings History and Estimates for CBL & Associates Properties (NYSE:CBL)

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