Urban Edge Properties (UE) Draws Bearish Attention After Forming Bearish Multiple Bottom

December 8, 2017 - By Henry Gaston

The stock of Urban Edge Properties (UE) shows a multiple bottoms pattern with $22.97 target or 8.00 % below today’s $24.97 share price. The 6 months chart pattern indicates high risk for the $2.84B company. It was reported on Dec, 8 by Finviz.com. If the $22.97 price target is reached, the company will be worth $227.36M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.08% or $0.02 during the last trading session, reaching $24.97. About 390,230 shares traded. Urban Edge Properties (NYSE:UE) has declined 6.37% since December 8, 2016 and is downtrending. It has underperformed by 23.07% the S&P500.

Analysts await Urban Edge Properties (NYSE:UE) to report earnings on February, 15. They expect $0.36 earnings per share, up 9.09 % or $0.03 from last year’s $0.33 per share. UE’s profit will be $40.97M for 17.34 P/E if the $0.36 EPS becomes a reality. After $0.34 actual earnings per share reported by Urban Edge Properties for the previous quarter, Wall Street now forecasts 5.88 % EPS growth.

Urban Edge Properties (NYSE:UE) Ratings Coverage

Among 3 analysts covering Urban Edge Properties (NYSE:UE), 0 have Buy rating, 1 Sell and 2 Hold. Therefore 0 are positive. Urban Edge Properties has $28 highest and $23 lowest target. $25.67’s average target is 2.80% above currents $24.97 stock price. Urban Edge Properties had 5 analyst reports since September 8, 2015 according to SRatingsIntel. As per Thursday, August 4, the company rating was downgraded by Credit Suisse. The firm has “Equal Weight” rating given on Monday, December 21 by CapitalOne. Evercore downgraded Urban Edge Properties (NYSE:UE) on Monday, August 14 to “Underperform” rating.

More notable recent Urban Edge Properties (NYSE:UE) news were published by: Streetinsider.com which released: “Urban Edge Properties (UE) Declares $0.22 Quarterly Dividend; 3.6% Yield” on November 07, 2017, also Businesswire.com with their article: “Urban Edge Properties Announces Sale of 6250000 Common Shares for $155 Million …” published on August 04, 2017, Businesswire.com published: “Urban Edge Properties Closes Acquisition of $325 Million, Seven Asset Portfolio” on May 25, 2017. More interesting news about Urban Edge Properties (NYSE:UE) were released by: Businesswire.com and their article: “Urban Edge Properties Announces Fourth Quarter and Year-End 2017 Earnings …” published on November 21, 2017 as well as Costar.com‘s news article titled: “Owner Agrees to Sell Seven-Property Retail Portfolio to Urban Edge Properties …” with publication date: April 10, 2017.

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