Yahoo Finance Boston Properties (BXP) Up 6.6% Since Earnings Report: Can It Continue?
It has been about a month since the last earnings report for Boston Properties, Inc. BXP. Shares have added about 6.6% in that time frame, outperforming the market.
Will the recent positive trend continue leading up to the stock’s next earnings release, or is it due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Boston Properties Tops Q4 FFO & Revenue Estimates
Boston Properties reported fourth-quarter 2016 FFO per share of $1.54, beating the Zacks Consensus Estimate of $1.50. Also, the bottom line came in higher than the year-ago figure of $1.28.
Total revenue during the quarter rose 1.9% year over year to $636.1 million. Also, the top line comfortably surpassed the Zacks Consensus Estimate of $605.2 million.
For the full year, the company recorded revenues of $2.56 billion, up 2.5% from the 2015 figure.
Property Update
As of Dec 31, 2016, Boston Properties’ portfolio comprised 174 properties, covering a total of around 47.7 million square feet of space. This included eight under-development properties, totaling around 4.0 million square feet.
The overall operating portfolio, comprising 163 properties (excluding two residential properties and one hotel), was 90.2% leased as of Dec 31, 2016. Also, the company along with its partner, which owns Metropolitan Square located in WA, closed the sale of 80% interest in a joint venture for around $282.4 million.
Liquidity
Boston Properties exited the fourth quarter with cash and cash equivalents of nearly $356.9 million, considerably down from $723.7 million as of 2015 end.
Outlook
The company updated its full-year 2017 guidance to $6.13–$6.23 per share from the previous projection of $6.05–$6.23.
It expects its first-quarter 2017 FFO per share in the range of $1.47–$1.49.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last one month period as none of them issued any earnings estimate revisions.
Boston Properties, Inc. Price and Consensus
Boston Properties, Inc. Price and Consensus | Boston Properties, Inc. Quote
VGM Scores
At this time, Boston Properties' stock has a subpar Growth Score of 'D', however its momentum is doing a lot better with a 'B'. However, the stock was allocated a grade of 'F' on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of 'F'. If you aren't focused on one strategy, this score is the one you should be interested in.
The stock is suitable solely for momentum based on our styles scores.
Outlook
The stock has a Zacks Rank #3 (Hold). We are expecting an inline return from the stock in the next few months.
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Boston Properties, Inc. (BXP): Free Stock Analysis Report
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