$1.14 EPS Expected for Macerich Co (MAC) This Quarter
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.
TRADEMARK VIOLATION NOTICE: “$1.14 EPS Expected for Macerich Co (MAC) This Quarter” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/1-14-eps-expected-for-macerich-co-mac-this-quarter/1797491.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with Analyst Ratings Network's FREE daily email newsletter.