Taubman Centers Price Target Cut to $71.00 by Analysts at Jefferies Group (TCO)
Equities research analysts at Jefferies Group lowered their price target on shares of Taubman Centers (NYSE:TCO) from $81.00 to $71.00 in a research note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price suggests a potential upside of 1.72% from the stock’s previous close.
Taubman Centers (NYSE:TCO) traded up 3.16% during mid-day trading on Wednesday, hitting $69.80. 1,041,919 shares of the company’s stock traded hands. Taubman Centers has a 52-week low of $65.36 and a 52-week high of $89.46. The stock’s 50-day moving average is $69.27 and its 200-day moving average is $77.22. The company has a market cap of $4.456 billion and a price-to-earnings ratio of 44.99.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings data 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.
A number of other analysts have also recently weighed in on TCO. Analysts at Cowen and Company cut their price target on shares of Taubman Centers (NYSE:TCO) from $88.00 to $75.00 in a research note to investors on Thursday, September 12th. They now have a “market perform” 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Taubman Centers presently has a consensus rating of “Hold” and an average target price of $78.71.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.87%. The ex-dividend date 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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