RBC Capital Reiterates “Hold” Rating for Macerich (MAC)
Macerich (NYSE:MAC)‘s stock had its “hold” rating reaffirmed by equities researchers at RBC Capital in a research report issued on Wednesday, Analyst Ratings Network.com reports. They currently have a $65.00 target price on the stock. RBC Capital’s target price points to a potential upside of 8.41% from the stock’s previous close.
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 52 week low of $54.32 and a 52 week high of $72.19. The stock has a 50-day moving average of $58.59 and a 200-day moving average of $63.14. The company has a market cap of $8.427 billion and a P/E ratio of 17.47.
Macerich (NYSE:MAC) last announced its earnings results on Tuesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.74 earnings per share. Macerich’s revenue was up 26.1% compared to the same quarter last year. On average, analysts predict that Macerich will post $3.48 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MAC. Analysts at Jefferies Group cut their price target on shares of Macerich (NYSE:MAC) from $68.00 to $60.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, 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.
Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Macerich has an average rating of “Hold” and a consensus price target of $64.84.
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.