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

Alexander & Baldwin (NYSE:ALEX) updated its FY 2024 earnings guidance on Thursday. 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 -.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TheStreet lowered shares of Alexander & Baldwin from a b- rating to a c+ rating in a report on Wednesday, February 28th. Piper Sandler reduced their price target on shares of Alexander & Baldwin from $19.00 to $17.00 and set a neutral rating for the company in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Alexander & Baldwin has an average rating of Hold and an average price target of $18.50.

Alexander & Baldwin Stock Performance

NYSE:ALEX traded up $0.36 during trading hours on Friday, hitting $16.19. 328,269 shares of the company were exchanged, compared to its average volume of 257,387. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 26.54 and a beta of 1.21. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $19.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. The company’s 50 day moving average price is $16.35 and its 200-day moving average price is $16.97.

Alexander & Baldwin Cuts Dividend

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

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.