Retail Opportunity Investments (NASDAQ:ROIC) Issues FY 2024 Earnings Guidance

by · The Markets Daily

Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.030-1.050 for the period, compared to the consensus estimate of 1.050. The company issued revenue guidance of -.

Retail Opportunity Investments Price Performance

Retail Opportunity Investments stock traded down $0.04 during mid-day trading on Tuesday, hitting $15.67. The stock had a trading volume of 528,048 shares, compared to its average volume of 1,083,449. The firm’s 50 day moving average is $15.52 and its 200 day moving average is $13.76. Retail Opportunity Investments has a one year low of $10.98 and a one year high of $16.27. The firm has a market capitalization of $2.00 billion, a P/E ratio of 52.37, a P/E/G ratio of 2.07 and a beta of 1.45. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07.

Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.19). Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The business had revenue of $83.32 million for the quarter, compared to the consensus estimate of $81.19 million. During the same quarter last year, the business earned $0.27 EPS. Retail Opportunity Investments’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ROIC shares. Raymond James boosted their price objective on Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Wells Fargo & Company boosted their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Retail Opportunity Investments presently has an average rating of “Hold” and a consensus price target of $15.00.

Read Our Latest Stock Report on Retail Opportunity Investments

About Retail Opportunity Investments

(Get Free Report)

Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated, metropolitan markets across the West Coast. As of December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.

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