Zacks Investment Research Downgrades BBX Capital (BBX) to Hold

Zacks Investment Research downgraded shares of BBX Capital (NYSE:BBX) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “BBX Capital Corporation is a holding company whose principal holding is Bluegreen Corporation. The Company is involved in the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects, as well as acquisitions, investments and management of middle market operating businesses. BBX Capital Corporation, formerly known as BFC Financial Corporation, is based in FL, United States. “

Separately, B. Riley cut their price objective on BBX Capital from $15.00 to $14.50 and set a buy rating for the company in a report on Thursday, June 28th.

Shares of BBX Capital stock opened at $6.05 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $610.62 million, a PE ratio of 8.40 and a beta of 1.58. BBX Capital has a fifty-two week low of $6.02 and a fifty-two week high of $10.17.

BBX Capital (NYSE:BBX) last announced its quarterly earnings data on Friday, August 3rd. The financial services provider reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.21. The business had revenue of $194.94 million during the quarter, compared to analyst estimates of $255.16 million. BBX Capital had a return on equity of 6.11% and a net margin of 7.74%. Equities analysts anticipate that BBX Capital will post 0.24 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.66%. BBX Capital’s dividend payout ratio (DPR) is 5.56%.

Several institutional investors have recently made changes to their positions in BBX. Zacks Investment Management acquired a new stake in shares of BBX Capital in the second quarter valued at $106,000. Alpine Global Management LLC purchased a new stake in shares of BBX Capital during the second quarter valued at $110,000. Element Capital Management LLC purchased a new stake in shares of BBX Capital during the first quarter valued at $136,000. Joel Isaacson & Co. LLC purchased a new stake in shares of BBX Capital during the second quarter valued at $148,000. Finally, MYDA Advisors LLC purchased a new stake in shares of BBX Capital during the second quarter valued at $163,000. Institutional investors and hedge funds own 32.19% of the company’s stock.

About BBX Capital

BBX Capital Corporation, formerly known as BFC Financial Corporation, is a private equity and venture capital firm specializing in investments and acquisitions of middle market companies. The firm also invests in mergers and acquisition, add-on acquisitions, divestiture, taking public companies private and private companies public, leveraged buyout, partnership, recapitalization, and restructuring.

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