$239.59 Million in Sales Expected for CBL & Associates Properties, Inc. (CBL) This Quarter

Wall Street brokerages predict that CBL & Associates Properties, Inc. (NYSE:CBL) will announce $239.59 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for CBL & Associates Properties’ earnings, with the lowest sales estimate coming in at $232.40 million and the highest estimate coming in at $247.50 million. CBL & Associates Properties posted sales of $258.49 million during the same quarter last year, which suggests a negative year over year growth rate of 7.3%. The business is expected to announce its next earnings results after the market closes on Thursday, February 8th.

According to Zacks, analysts expect that CBL & Associates Properties will report full-year sales of $239.59 million for the current fiscal year, with estimates ranging from $909.43 million to $939.40 million. For the next fiscal year, analysts anticipate that the business will report sales of $900.70 million per share, with estimates ranging from $862.86 million to $947.44 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover CBL & Associates Properties.

Several research analysts have recently issued reports on CBL shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.50 price target on shares of CBL & Associates Properties in a research note on Friday, November 3rd. Wells Fargo & Co downgraded shares of CBL & Associates Properties from a “market perform” rating to an “underperform” rating in a research note on Friday, November 3rd. Zacks Investment Research downgraded shares of CBL & Associates Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. Boenning Scattergood downgraded shares of CBL & Associates Properties from a “neutral” rating to an “under perform” rating in a research note on Friday, November 3rd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $4.75 target price on shares of CBL & Associates Properties in a research note on Thursday, December 14th. Nine investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. CBL & Associates Properties has an average rating of “Sell” and a consensus target price of $8.81.

Several large investors have recently modified their holdings of CBL. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CBL & Associates Properties by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,908 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 1,027 shares in the last quarter. WFG Advisors LP acquired a new position in shares of CBL & Associates Properties in the 2nd quarter valued at approximately $124,000. Bank of Montreal Can raised its position in shares of CBL & Associates Properties by 152.2% in the 2nd quarter. Bank of Montreal Can now owns 15,899 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 9,594 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of CBL & Associates Properties in the 2nd quarter valued at approximately $140,000. Finally, Shelton Capital Management acquired a new position in shares of CBL & Associates Properties in the 2nd quarter valued at approximately $143,000. Institutional investors and hedge funds own 95.81% of the company’s stock.

CBL & Associates Properties (NYSE CBL) opened at $5.71 on Friday. The stock has a market capitalization of $976.99, a price-to-earnings ratio of 9.06, a PEG ratio of 0.71 and a beta of 1.10. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.53 and a current ratio of 0.53. CBL & Associates Properties has a one year low of $5.31 and a one year high of $11.82.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 14.01%. The ex-dividend date of this dividend is Thursday, December 28th. CBL & Associates Properties’s payout ratio is currently 126.98%.

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CBL & Associates Properties Company Profile

CBL & Associates Properties, Inc is a self-managed, self-administered, integrated real estate investment trust. The Company owns, develops, acquires, leases, manages and operates regional shopping malls, open-air and mixed-use centers, outlet centers, associated centers, community centers and office properties.

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