Taubman Centers Price Target Lowered to $77.00 at Deutsche Bank (TCO)
Equities researchers at Deutsche Bank lowered their price objective on shares of Taubman Centers (NYSE:TCO) from $79.00 to $77.00 in a research report issued on Tuesday. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price target suggests a potential upside of 5.28% from the stock’s previous close.
Shares of Taubman Centers (NYSE:TCO) traded down 0.71% on Tuesday, hitting $73.14. The stock had a trading volume of 564,003 shares. Taubman Centers has a 52 week low of $61.43 and a 52 week high of $77.40. The stock has a 50-day moving average of $75.70 and a 200-day moving average of $72.19. The company has a market cap of $4.627 billion and a P/E ratio of 10.38.
Taubman Centers (NYSE:TCO) last announced its earnings results on Wednesday, July 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $168.14 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts expect that Taubman Centers will post $3.67 EPS for the current fiscal year.
In other Taubman Centers news, CFO Lisa A. Payne sold 4,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $73.22, for a total value of $292,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on TCO. Analysts at Zacks reiterated a “neutral” rating on shares of Taubman Centers in a research note on Friday, June 27th. They now have a $78.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Taubman Centers from $77.00 to $79.00 in a research note on Thursday, June 19th. They now have an “outperform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, June 11th. They now have a $77.00 price target on the stock, up previously from $74.00. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $75.29.
Taubman Centers, Inc (NYSE:TCO) operates as a self-administered and self-managed real estate investment trust (REIT).
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