LandBridge (NYSE:LB – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08), FiscalAI reports. LandBridge had a return on equity of 4.75% and a net margin of 16.49%. The business had revenue of $70.89 million during the quarter, compared to analyst estimates of $65.94 million. LandBridge’s revenue for the quarter was up 39.5% on a year-over-year basis.
LandBridge Stock Down 13.3%
LB traded down $10.51 during trading on Wednesday, hitting $68.47. The company had a trading volume of 1,404,186 shares, compared to its average volume of 259,706. LandBridge has a 1-year low of $43.75 and a 1-year high of $91.69. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27. The company has a market cap of $5.28 billion, a PE ratio of 60.59 and a beta of 0.19. The business has a 50-day moving average of $83.60 and a 200-day moving average of $73.66.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on LB shares. Weiss Ratings cut LandBridge from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, October 27th. Citigroup lifted their price objective on shares of LandBridge from $66.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Raymond James Financial reissued an “outperform” rating and set a $91.00 target price on shares of LandBridge in a research report on Monday, October 19th. Piper Sandler boosted their price objective on shares of LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, September 1st. Finally, Zacks Research cut shares of LandBridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, LandBridge presently has an average rating of “Hold” and a consensus target price of $83.00.
View Our Latest Research Report on LandBridge
LandBridge Company Profile
LandBridge Company (NYSE: LB) is a landowner and infrastructure-focused real estate company serving the energy and industrial sectors. The company owns and manages large tracts of land in the Permian Basin, primarily in West Texas and southeastern New Mexico, one of the leading oil and natural gas producing regions in the United States.
LandBridge generates revenue by providing access to its properties and related resources. Its activities include surface-use agreements, easements, rights-of-way, water services, mineral and royalty interests, and accommodations for energy, logistics, and infrastructure projects.
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