Zacks Investment Research upgraded shares of The St. Joe Co. (NYSE:JOE) from a hold rating to a strong-buy rating in a report published on Wednesday. Zacks Investment Research currently has $21.00 price objective on the stock.
According to Zacks, “For St. Joe, full year 2016 earnings per share estimate moved north lately. The company has mostly positive record of earnings surprises in recent quarters. Notably, the company makes concerted efforts to enhance its resorts, leisure business and leasing operations. We believe that such efforts would aid in boosting its profitability going forward. Sale of non-strategic assets also provides it with substantial liquidity for developmental needs. But volatility in sales revenues at a few segments, and regional business concentration increases its risk.”
Shares of The St. Joe (NYSE:JOE) opened at 18.07 on Wednesday. The company has a market capitalization of $1.34 billion, a PE ratio of 132.87 and a beta of 0.81. The St. Joe has a 1-year low of $14.27 and a 1-year high of $21.64. The company’s 50-day moving average price is $18.66 and its 200-day moving average price is $17.74.
The St. Joe (NYSE:JOE) last released its earnings results on Wednesday, August 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The St. Joe had a return on equity of 0.25% and a net margin of 10.94%. On average, equities analysts expect that The St. Joe will post $0.15 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in The St. Joe by 146.5% in the third quarter. BNP Paribas Arbitrage SA now owns 5,552 shares of the company’s stock valued at $102,000 after buying an additional 3,300 shares during the period. PNC Financial Services Group Inc. boosted its stake in The St. Joe by 563.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,724 shares of the company’s stock valued at $101,000 after buying an additional 4,861 shares during the period. Teacher Retirement System of Texas boosted its stake in The St. Joe by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 7,384 shares of the company’s stock valued at $131,000 after buying an additional 892 shares during the period. Parametric Portfolio Associates LLC boosted its stake in The St. Joe by 14.1% in the second quarter. Parametric Portfolio Associates LLC now owns 11,504 shares of the company’s stock valued at $204,000 after buying an additional 1,420 shares during the period. Finally, Capital Fund Management S.A. purchased a new stake in The St. Joe during the second quarter valued at $246,000. Institutional investors own 95.02% of the company’s stock.
The St. Joe Company Profile
The St. Joe Company is a real estate development and operating company, asset management and operating company with real estate assets and operations concentrated primarily between Tallahassee and Destin, Florida. The Company has residential and commercial land-use entitlements in hand or in process.
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