Macerich Price Target Cut to $60.00 by Analysts at Jefferies Group (MAC)
Jefferies Group decreased their price objective on shares of Macerich (NYSE:MAC) from $68.00 to $60.00 in a research note issued on Wednesday, American Banking and Market News reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 0.07% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company cut their price target on shares of Macerich (NYSE:MAC) from $67.00 to $59.00 in a research note to investors on Thursday, September 12th. They now have a “market perform” rating on the stock. Separately, 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. 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $64.84.
Macerich (NYSE:MAC) traded up 3.41% during mid-day trading on Wednesday, hitting $59.96. The stock had a trading volume of 780,542 shares. Macerich has a 1-year low of $54.32 and a 1-year high of $72.19. The stock’s 50-day moving average is $58.59 and its 200-day moving average is $63.14. The company has a market cap of $8.427 billion and a price-to-earnings ratio of 17.47.
Macerich (NYSE:MAC) last issued its quarterly 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.
The Macerich Company is a self-administered and self-managed real estate investment trust (NYSE:MAC).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.