Analysts forecast that Macerich Co (NYSE:MAC) will report earnings of $1.14 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Macerich’s earnings, with estimates ranging from $1.12 to $1.15. Macerich reported earnings of $1.17 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 2.6%. The company is expected to announce its next earnings results on Monday, February 5th.

According to Zacks, analysts expect that Macerich will report full year earnings of $3.94 per share for the current financial year, with EPS estimates ranging from $3.92 to $3.97. For the next fiscal year, analysts expect that the business will post earnings of $4.09 per share, with EPS estimates ranging from $4.03 to $4.14. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Macerich.

Macerich (NYSE:MAC) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.86). Macerich had a return on equity of 3.56% and a net margin of 14.92%. The business had revenue of $242.50 million during the quarter, compared to the consensus estimate of $226.00 million. During the same quarter in the previous year, the business posted $1.04 earnings per share. Macerich’s quarterly revenue was down 4.3% compared to the same quarter last year.

MAC has been the topic of several research reports. Royal Bank of Canada cut Macerich from an “outperform” rating to a “sector perform” rating and set a $66.00 target price on the stock. in a research report on Wednesday. Evercore ISI cut Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price on the stock. in a research report on Monday, December 11th. Wells Fargo & Co raised Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price on the stock in a research report on Tuesday, December 19th. Mizuho reissued a “hold” rating and issued a $60.00 target price on shares of Macerich in a research report on Friday, November 10th. Finally, BMO Capital Markets set a $55.00 target price on Macerich and gave the stock a “hold” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $66.85.

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in Macerich by 7.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 203 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Macerich in the 3rd quarter worth approximately $216,000. Sun Life Financial INC lifted its holdings in Macerich by 1,864.0% in the 2nd quarter. Sun Life Financial INC now owns 3,928 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 3,728 shares in the last quarter. Amica Pension Fund Board of Trustees purchased a new position in Macerich in the 3rd quarter worth approximately $229,000. Finally, Riverhead Capital Management LLC lifted its holdings in Macerich by 11.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 435 shares in the last quarter. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Macerich (MAC) opened at $64.81 on Wednesday. Macerich has a twelve month low of $52.12 and a twelve month high of $73.34. The company has a market capitalization of $9,009.46, a PE ratio of 61.72, a P/E/G ratio of 2.97 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.85 and a quick ratio of 0.85.

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About Macerich

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

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Earnings History and Estimates for Macerich (NYSE:MAC)

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