Broadstone Net Lease (NYSE:BNL) Issues FY 2024 Earnings Guidance

by · The Markets Daily

Broadstone Net Lease (NYSE:BNL – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.410-1.430 for the period, compared to the consensus earnings per share estimate of 1.480. The company issued revenue guidance of -.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock traded up $0.12 during trading hours on Wednesday, hitting $18.12. 1,302,610 shares of the stock were exchanged, compared to its average volume of 1,155,292. Broadstone Net Lease has a 12 month low of $13.91 and a 12 month high of $19.15. The business’s 50-day moving average is $18.40 and its two-hundred day moving average is $16.80. The stock has a market capitalization of $3.42 billion, a P/E ratio of 21.83 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $105.91 million for the quarter, compared to analyst estimates of $105.95 million. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. During the same period in the prior year, the business earned $0.35 earnings per share. On average, equities analysts predict that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on BNL. Wedbush initiated coverage on Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. Truist Financial boosted their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group increased their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.25.

Get Our Latest Stock Analysis on BNL

About Broadstone Net Lease

(Get Free Report)

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.

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