Zacks Investment Research upgraded shares of The St. Joe Co. (NYSE:JOE) from a hold rating to a strong-buy rating in a report issued 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.”
The St. Joe (NYSE:JOE) traded up 0.2608% during trading on Wednesday, reaching $18.2575. 22,618 shares of the company were exchanged. The firm’s 50 day moving average price is $18.72 and its 200-day moving average price is $17.73. The St. Joe has a one year low of $14.27 and a one year high of $21.64. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 134.2463 and a beta of 0.81.
The St. Joe (NYSE:JOE) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The St. Joe had a net margin of 10.94% and a return on equity of 0.25%. On average, equities research analysts predict that The St. Joe will post $0.12 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in The St. Joe during the fourth quarter valued at about $10,743,000. Front Street Capital Management Inc. acquired a new stake in The St. Joe during the second quarter valued at about $4,135,000. Swiss National Bank increased its stake in The St. Joe by 1.8% in the second quarter. Swiss National Bank now owns 92,600 shares of the company’s stock valued at $1,641,000 after buying an additional 1,600 shares during the last quarter. JPMorgan Chase & Co. increased its position in The St. Joe by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 873,209 shares of the company’s stock worth $14,975,000 after buying an additional 69,484 shares in the last quarter. Finally, Magnetar Financial LLC increased its position in The St. Joe by 7.9% in the first quarter. Magnetar Financial LLC now owns 23,773 shares of the company’s stock worth $408,000 after buying an additional 1,748 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.
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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