Taubman Centers Receives Average Rating of “Hold” from Analysts (NYSE:TCO)
Taubman Centers (NYSE:TCO) has been given a consensus rating of “Hold” by the eleven analysts that are covering the company, American Banking and Market News reports. Seven investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $77.75.
Shares of Taubman Centers (NYSE:TCO) opened at 76.17 on Tuesday. Taubman Centers has a 52-week low of $61.43 and a 52-week high of $77.40. The stock’s 50-day moving average is $75.34 and its 200-day moving average is $73.26. The company has a market cap of $4.823 billion and a P/E ratio of 10.74.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts predict that Taubman Centers will post $3.66 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Taubman Centers in a research note on Wednesday, August 20th. They now have a $77.00 price target on the stock, down previously from $80.00. Separately, analysts at Morgan Stanley upgraded shares of Taubman Centers from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 15th. They now have a $91.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Deutsche Bank cut their price target on shares of Taubman Centers from $79.00 to $77.00 in a research note on Tuesday, August 5th. They now have a “hold” rating on the stock.
Taubman Centers, Inc (NYSE:TCO) operates as a self-administered and self-managed real estate investment trust (REIT).
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