Alexander & Baldwin (NYSE:ALEX) Updates FY 2024 Earnings Guidance

Alexander & Baldwin (NYSE:ALEX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.890-1.000 for the period, compared to the consensus earnings per share estimate of 1.020. The company issued revenue guidance of -.

Alexander & Baldwin Stock Up 2.3 %

NYSE:ALEX traded up $0.36 during mid-day trading on Friday, hitting $16.19. The stock had a trading volume of 328,269 shares, compared to its average volume of 257,387. The stock has a 50-day simple moving average of $16.35 and a two-hundred day simple moving average of $16.97. The company has a market capitalization of $1.18 billion, a PE ratio of 26.54 and a beta of 1.21. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $19.99. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46.

Alexander & Baldwin Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 14th will be paid a $0.222 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.89 annualized dividend and a yield of 5.48%. Alexander & Baldwin’s dividend payout ratio is currently 145.90%.

Analyst Ratings Changes

ALEX has been the topic of several recent analyst reports. Piper Sandler dropped their price target on shares of Alexander & Baldwin from $19.00 to $17.00 and set a neutral rating on the stock in a research note on Thursday, March 14th. TheStreet lowered shares of Alexander & Baldwin from a b- rating to a c+ rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $18.50.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.