The stock of Kimco Realty Corporation (NYSE:KIM) is now priced at $12.21 and the shares are 0.22 points up or 1.83% higher compared to its previous closing price of $11.99. The stock had 4.706 million contracts set over the past session. KIM shares’ daily volume is compared to its average trading volume at 5.723 million shares. However, it has a float of 421 million and although its performance was 3.3% over the week, it’s one to watch. Analysts have given the KIM stock a yearly average price target of $13.28 per share. It means the stock’s upside potential is 8.76% with the KIM share price recently placing at $11.68 to $12.36. However, some brokerage firms have priced the stock below the average, including one that has called $11.
The shorts are running away from the Kimco Realty Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the KIM shares have declined. Short interest in the stock represents just 3.18% of its float, but the volume has dropped by 0.
In the last trading session, Kimco Realty Corporation (NYSE:KIM) raised by $0.39 over the week and gained $0.67 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $21.86. The stock recorded its established 52-week high on 11/18/19.
Since 04/02/20, the stock has traded to a low of $7.45 at 63.89%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.14. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Kimco Realty Corporation’s two-week RSI is 55.07. This suggests that the stock is neutral at the moment and that KIM shares’ price movement remains stable. The stochastic readings are equally revealing at 60.98% meaning the KIM share price is currently in neutral territory.
The technical chart shows that the KIM stock will likely settle at between $12.49 and $12.76 per share. However, if the stock dips below $11.81, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $11.4.
Currently, the stock is trading in the green of MACD, with a reading of 0.27. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Piper Sandler raised their recommendation for KIM from Neutral to Overweight in August 11 review while maintain their target price of $13 to $15. Compass Point analysts upgraded their recommendation of the stock from Sell to Neutral while keeping its target price at $13 in a flash note released to investors on July 08. Deutsche Bank seeing the improvements upgraded the stock from Hold to Buy on July 06, placing it at $16.
The average rating for the KIM equity is 2.82 and is currently gathering a bullish momentum. Of 21 analysts tracking Kimco Realty Corporation polled by Reuters, 15 rated KIM as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the KIM stock price is 23.44X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 5.4 below the group’s average of 20. Kimco Realty Corporation has its P/E ratio at 1, which means that the stock is currently trading at a discount relative to the 1.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Kimco Realty Corporation (NYSE:KIM) will decrease by about -99.97%, which will see them reach $258 million. The company’s full-year revenues are, however, expected to diminish by about -7.02%, down from $1140 million to $1060 million. KIM’s expected adjusted earnings should drop almost -35.71% to end up at $0.09 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 67.5% to record $1.34/share.