Boston Properties (NYSE:BXP) Issues FY 2024 Earnings Guidance

Boston Properties (NYSE:BXP) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 7.090-7.150 for the period, compared to the consensus EPS estimate of 7.050. The company issued revenue guidance of -. Boston Properties also updated its Q3 guidance to $1.80 to $1.82 EPS.

Boston Properties Price Performance

BXP traded up $1.37 on Tuesday, reaching $72.72. The stock had a trading volume of 1,752,757 shares, compared to its average volume of 1,323,752. The firm has a 50-day moving average of $62.59 and a 200-day moving average of $63.54. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $73.97. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 59.61, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 1.91.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.22). The firm had revenue of $839.44 million during the quarter, compared to analyst estimates of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. As a group, sell-side analysts anticipate that Boston Properties will post 7.04 EPS for the current year.

Boston Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, June 28th. Boston Properties’s payout ratio is 321.31%.

Wall Street Analysts Forecast Growth

BXP has been the subject of several analyst reports. Barclays dropped their price target on shares of Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a research note on Friday, May 24th. BMO Capital Markets lowered their target price on Boston Properties from $80.00 to $78.00 and set an outperform rating for the company in a research report on Monday, April 8th. Morgan Stanley reiterated an equal weight rating and issued a $62.00 price target on shares of Boston Properties in a research report on Thursday, June 20th. Wedbush lowered their price objective on Boston Properties from $66.00 to $63.00 and set a neutral rating for the company in a research report on Thursday, May 2nd. Finally, Truist Financial reduced their target price on Boston Properties from $75.00 to $67.00 and set a hold rating on the stock in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Boston Properties currently has an average rating of Hold and an average target price of $69.60.

About Boston Properties

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.