Macerich Co (MAC) to Post Q3 2018 Earnings of $1.01 Per Share, Boenning Scattergood Forecasts
Macerich Co (NYSE:MAC) – Analysts at Boenning Scattergood dropped their Q3 2018 earnings per share estimates for Macerich in a report released on Tuesday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will post earnings per share of $1.01 for the quarter, down from their prior estimate of $1.02. Boenning Scattergood currently has a “Buy” rating and a $75.00 target price on the stock. Boenning Scattergood also issued estimates for Macerich’s Q4 2018 earnings at $1.13 EPS.
A number of other equities research analysts also recently commented on the company. Royal Bank of Canada downgraded 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, January 3rd. Wells Fargo & Co upgraded 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. Evercore ISI downgraded 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. Mizuho reiterated 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 investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $66.85.
Macerich (NYSE:MAC) traded down $0.51 during trading hours on Thursday, hitting $63.03. The company had a trading volume of 1,242,400 shares, compared to its average volume of 1,925,043. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $9,220.00, a P/E ratio of 60.03, a P/E/G ratio of 3.01 and a beta of 0.87. Macerich has a 12 month low of $52.12 and a 12 month high of $70.96.
Macerich (NYSE:MAC) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.86). The business had revenue of $242.50 million during the quarter, compared to analysts’ expectations of $226.00 million. Macerich had a net margin of 14.92% and a return on equity of 3.56%. Macerich’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share.
A number of hedge funds have recently modified their holdings of MAC. Pacer Advisors Inc. raised its position in Macerich by 7.9% during the second quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 203 shares during the period. Meeder Asset Management Inc. purchased a new stake in Macerich during the third quarter valued at approximately $216,000. Sun Life Financial INC raised its position in Macerich by 1,864.0% during the second quarter. Sun Life Financial INC now owns 3,928 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 3,728 shares during the period. Amica Pension Fund Board of Trustees bought a new position in shares of Macerich during the third quarter valued at approximately $229,000. Finally, Riverhead Capital Management LLC grew its stake in shares of Macerich by 11.8% during the second quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Macerich Co (MAC) to Post Q3 2018 Earnings of $1.01 Per Share, Boenning Scattergood Forecasts” was originally reported by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/macerich-co-mac-to-post-q3-2018-earnings-of-1-01-per-share-boenning-scattergood-forecasts/1803152.html.
Macerich Company Profile
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.
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.