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

Alexander & Baldwin (NYSE:ALEX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.050-1.120 for the period, compared to the consensus EPS estimate of 1.270. The company issued revenue guidance of -.

Alexander & Baldwin Stock Performance

ALEX stock traded up $0.07 during midday trading on Thursday, hitting $18.34. 249,361 shares of the stock traded hands, compared to its average volume of 324,704. The firm has a market cap of $1.33 billion, a P/E ratio of 30.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.53. The stock’s fifty day simple moving average is $19.14 and its 200-day simple moving average is $17.82. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30.

Analyst Ratings Changes

ALEX has been the topic of several analyst reports. Piper Sandler upgraded shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and raised their price target for the company from $17.00 to $22.00 in a research report on Friday, July 26th. Alliance Global Partners began coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Alexander & Baldwin presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

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.