Macerich Stock Rating Reaffirmed by Zacks (MAC)
Macerich (NYSE:MAC)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Friday, AnalystRatings.Net reports. They currently have a $59.00 price objective on the stock. Zacks‘ target price would suggest a potential upside of 4.81% from the company’s current price.
Shares of Macerich (NYSE:MAC) traded down 0.84% during mid-day trading on Friday, hitting $55.817. The stock had a trading volume of 432,411 shares. Macerich has a 1-year low of $54.32 and a 1-year high of $72.19. The stock has a 50-day moving average of $57.07 and a 200-day moving average of $62.78. The company has a market cap of $7.844 billion and a P/E ratio of 16.96.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 26.1% on a year-over-year basis. Analysts expect that Macerich will post $3.48 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MAC. Analysts at Credit Suisse initiated coverage on shares of Macerich (NYSE:MAC) in a research note to investors on Thursday, September 19th. They set an “underperform” rating and a $58.00 price target on the stock. Separately, analysts at RBC Capital reiterated a “hold” rating on shares of Macerich (NYSE:MAC) in a research note to investors on Wednesday, September 18th. They now have a $65.00 price target on the stock. Finally, 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, September 18th. They now have a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.36.
In other Macerich news, Director Diana Laing sold 1,695 shares of Macerich stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $58.20, for a total value of $98,649.00. Following the completion of the transaction, the director now directly owns 12,479 shares in the company, valued at approximately $726,278. The sale was disclosed in a document filed with the SEC, which is available at this link.
The Macerich Company is a self-administered and self-managed real estate investment trust (NYSE:MAC).
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