Boston Properties Beats Up on Analysts Yet Again

Boston Properties (NYS: BXP) reported earnings on Jan. 31. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Boston Properties beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share improved.

Gross margins contracted, operating margins dropped, and net margins grew.

Revenue details
Boston Properties reported revenue of $452.8 million. The eight analysts polled by S&P Capital IQ expected a top line of $423.8 million. Sales were 13% higher than the prior-year quarter's $392.5 million.


Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $0.70. The four earnings estimates compiled by S&P Capital IQ forecast $0.35 per share on the same basis. GAAP EPS were $0.69 for Q4 against -$0.09 per share for the prior-year quarter.


Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 64.2%, 270 basis points worse than the prior-year quarter. Operating margin was 35.8%, 370 basis points worse than the prior-year quarter. Net margin was 22.4%, 2,560 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $427.4 million. On the bottom line, the average EPS estimate is $0.30.

Next year's average estimate for revenue is $1.77 billion. The average EPS estimate is $1.39.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 164 members out of 323 rating the stock outperform, and 159 members rating it underperform. Among 124 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 68 give Boston Properties a green thumbs-up, and 56 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boston Properties is outperform, with an average price target of $106.06.

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At the time thisarticle was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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