As of January 30, 2024, the outlook for SL Green Realty (NYSE:SLG) is varied, with analysts expressing both bullish and bearish sentiments. Over the past 30 days, there have been 3 neutral ratings, while the previous month saw 1 somewhat positive, 1 neutral, and 1 negative rating. The average price target for the next 12 months is $44.91, with a high estimate of $58.00 and a low estimate of $35.00. This represents a 10.07% increase from the previous average price target of $40.80.
Recent actions taken by analysts include Deutsche Bank’s “hold” announcement with a price target of $50.00, Piper Sandler raising their rating to “overweight” with a price target of $58.00, and Goldman Sachs raising their rating to “sell” with a price target of $36.00.
According to the consensus rating from multiple sources, SL Green Realty has received 9 buy ratings, 11 hold ratings, and 9 sell ratings in the current month. The average analyst price target over the past 3 months is $40.31, with a high forecast of $60.00 and a low forecast of $21.00.
Overall, the consensus rating for SL Green Realty is “reduce,” based on 4 sell ratings, 7 hold ratings, and 2 buy ratings from the past year.
In conclusion, the analyst evaluations for SL Green Realty showcase a mix of sentiments, with varying ratings and price targets that indicate a lack of consensus regarding the future performance of the company.
SL Green Realty Corp. (SLG) Shows Promising Performance with Positive Price Momentum and Investor Confidence
On January 30, 2024, SL Green Realty Corp. (SLG) exhibited a promising performance, trading near the top of its 52-week range and above its 200-day simple moving average. The stock showcased positive price momentum, with a rise of $0.68 or 1.44% since the market last closed. However, it is worth noting that SLG experienced a slight drop of $0.24 in pre-market trading. SLG closed at $47.68, marking a notable increase of $0.68 from the previous closing price. This upward movement indicates a positive trend in the stock’s performance. Furthermore, SLG’s current trading position near the top of its 52-week range suggests that the stock has been performing well over the past year. This can be an indicator of investor confidence and market strength. Additionally, SLG’s trading above its 200-day simple moving average is another positive sign. However, it is important to note the slight drop of $0.24 in pre-market trading. Investors and traders should consider these factors when evaluating SLG’s stock performance on January 30, 2024. It is always recommended to conduct thorough research and analysis before making any investment decisions.
SLG Stock Performance: Mixed Results with Decreased Net Income and Negative EPS
SLG stock performances on January 30, 2024, have shown mixed results. The company’s total revenue for the past year was $913.71 million, which increased by 9.73% compared to the previous year. In the last quarter, SLG generated $211.72 million in total revenue, representing a 14.01% increase compared to the previous quarter.
However, SLG reported a net loss of -$557.30 million over the past year, a significant decrease of 654.64% compared to the previous year. In the last quarter, the net loss was -$149.98 million, reflecting a decrease of 700.56% compared to the previous quarter.
These figures indicate that SLG has been facing financial challenges, resulting in significant losses. The decrease in net income suggests that the company’s expenses have exceeded its revenue, leading to a negative bottom line.
SLG’s earnings per share (EPS) have also been negatively affected. The EPS for the past year was -$9.08, indicating a decrease of 509.48% compared to the previous year. In the last quarter, the EPS was -$2.44, which remained unchanged compared to the previous quarter.
The decline in EPS suggests that SLG’s profitability per share has been eroded, further highlighting the company’s financial struggles.
Overall, SLG’s stock performance on January 30, 2024, reflects a mixed bag of results. While the company has experienced growth in total revenue, the significant decrease in net income and negative EPS raise concerns about its financial health. Investors should carefully analyze these figures and consider the potential risks before making any investment decisions related to SLG stock.
