Alexander & Baldwin Inc (ALEX) was Downgraded by JMP Securities to ” Mkt Perform”. Earlier the firm had a rating of “Mkt Outperform ” on the company shares. JMP Securities advised their investors in a research report released on Aug 26, 2016.
On the company’s financial health, Alexander & Baldwin Inc reported $-0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.16. The company had revenue of $102.70 million for the quarter, compared to analysts expectations of $159.09 million. The company’s revenue was down -33.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.
Alexander & Baldwin Inc opened for trading at $42.05 and hit $42.8 on the upside on Tuesday, eventually ending the session at $42.07, with a gain of 0.57% or 0.24 points. The heightened volatility saw the trading volume jump to 1,55,338 shares. Company has a market cap of $2,061 M.
In a different news, on Aug 10, 2016, Stanley M Kuriyama (Executive Chairman) sold 4,250 shares at $40.82 per share price. According to the SEC, on Jun 14, 2016, David C Hulihee (director) purchased 3,000 shares at $36.92 per share price. On Sep 2, 2015, Meredith J Ching (Sr. Vice Pres. Gov’t Rel.) purchased 150 shares at $33.50 per share price, according to the Form-4 filing with the securities and exchange commission.
Alexander & Baldwin Inc. (A&B) is a company engaged in real estate development real estate leasing materials and construction and agribusiness. The Company operates in four segments: Real Estate Development and Sales Real Estate Leasing Materials and Construction and Agribusiness. The Real Estate Development and Sales segment generates its revenues through a program of land stewardship planning entitlement development real estate investment and sale of land and commercial and residential properties in Hawaii. The Real Estate Leasing segment owns operates and manages a portfolio of 60 retail office and industrial properties in Hawaii and on the Mainland totaling 5.1 million square feet of gross leasable area (GLA). The Materials and Construction segment performs asphalt paving as prime contractor and subcontractor. The Agribusiness segment produces bulk raw sugar specialty food grade sugars and molasses.