Macerich PT Lowered to $59.00 (MAC)
Equities researchers at Cowen and Company lowered their target price on shares of Macerich (NYSE:MAC) from $67.00 to $59.00 in a research report issued on Thursday, Analyst Ratings Network reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price target suggests a potential upside of 3.51% from the stock’s previous close.
Macerich (NYSE:MAC) traded down 0.58% on Thursday, hitting $57.00. 493,446 shares of the company’s stock traded hands. Macerich has a one year low of $54.32 and a one year high of $72.19. The stock has a 50-day moving average of $59.36 and a 200-day moving average of $63.21. The company has a market cap of $8.011 billion and a P/E ratio of 17.27.
Macerich (NYSE:MAC) last released its earnings data on Tuesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The company had revenue of $262.90 million for the quarter, compared to the consensus estimate of $282.21 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. Analysts expect that Macerich will post $3.48 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital cut their price target on shares of Macerich (NYSE:MAC) from $71.00 to $65.00 in a research note to investors on Monday, August 12th. They now have a “sector perform” rating on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Macerich (NYSE:MAC) from $69.00 to $68.00 in a research note to investors on Wednesday, July 24th. They now have a “hold” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Macerich (NYSE:MAC) in a research note to investors on Friday, July 19th. They now have a $68.00 price target on the stock.
Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $65.57.
The Macerich Company is a self-administered and self-managed real estate investment trust (NYSE:MAC).
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