LandBridge (NYSE:LB) Issues Quarterly Earnings Results

LandBridge (NYSE:LB) posted its quarterly earnings results on Wednesday. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08), FiscalAI reports. LandBridge had a return on equity of 5.18% and a net margin of 17.11%. The business had revenue of $70.89 million during the quarter, compared to analysts’ expectations of $65.94 million. The business’s quarterly revenue was up 39.5% compared to the same quarter last year.

LandBridge Trading Up 7.0%

Shares of NYSE LB traded up $4.32 during mid-day trading on Friday, reaching $66.20. The company had a trading volume of 476,542 shares, compared to its average volume of 383,587. The company has a current ratio of 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.64. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 50.15 and a beta of 0.19. The business’s 50-day moving average is $83.05 and its 200-day moving average is $73.67. LandBridge has a 52 week low of $43.75 and a 52 week high of $91.69.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. LandBridge’s dividend payout ratio is presently 42.48%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LB. Raymond James Financial reiterated an “outperform” rating and set a $91.00 target price on shares of LandBridge in a research note on Monday, October 19th. Piper Sandler lifted their target price on shares of LandBridge from $80.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Citigroup upped their price target on LandBridge from $66.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 26th. Zacks Research lowered LandBridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Finally, Weiss Ratings lowered shares of LandBridge from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, October 27th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.00.

About LandBridge

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.