Zacks Reiterates Neutral Rating for Macerich (MAC)
Macerich (NYSE:MAC)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Thursday, American Banking & Market News reports. They currently have a $62.00 target price on the stock. Zacks‘ target price would indicate a potential upside of 6.20% from the stock’s previous close.
Macerich (NYSE:MAC) traded down 0.87% during mid-day trading on Thursday, hitting $58.38. 767,845 shares of the company’s stock traded hands. Macerich has a 52-week low of $55.13 and a 52-week high of $72.19. The stock’s 50-day moving average is $58.50 and its 200-day moving average is $59.1. The company has a market cap of $8.205 billion and a price-to-earnings ratio of 18.18.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $269.10 million for the quarter, compared to the consensus estimate of $241.21 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts predict that Macerich will post $3.51 earnings per share for the current fiscal year.
The Macerich Company is a self-administered and self-managed real estate investment trust (NYSE:MAC).
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