Taubman Centers PT Lowered to $75.00 (TCO)
Analysts at Cowen and Company reduced their target price on shares of Taubman Centers (NYSE:TCO) from $88.00 to $75.00 in a research report issued to clients and investors on Thursday, American Banking & Market News reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price target points to a potential upside of 9.83% from the company’s current price.
A number of other analysts have also recently weighed in on TCO. Analysts at Jefferies Group cut their price target on shares of Taubman Centers (NYSE:TCO) from $83.00 to $81.00 in a research note to investors on Wednesday, July 24th. They now have a “hold” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Taubman Centers (NYSE:TCO) in a research note to investors on Thursday, July 11th. They now have a $80.00 price target on the stock.
Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Taubman Centers currently has an average rating of “Hold” and an average target price of $80.14.
Taubman Centers (NYSE:TCO) traded down 0.70% on Thursday, hitting $68.29. 568,908 shares of the company’s stock traded hands. Taubman Centers has a 1-year low of $65.36 and a 1-year high of $89.46. The stock has a 50-day moving average of $70.34 and a 200-day moving average of $77.46. The company has a market cap of $4.359 billion and a P/E ratio of 45.72.
Taubman Centers (NYSE:TCO) last announced its earnings results on Friday, July 26th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by $0.04. The company had revenue of $178.19 million for the quarter, compared to the consensus estimate of $179.60 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. Analysts expect that Taubman Centers will post $3.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, September 12th.
Taubman Centers, Inc (NYSE:TCO) operates as a self-administered and self-managed real estate investment trust (REIT).
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