Macerich Company (The) (MAC) to Release Quarterly Earnings on Monday
Macerich Company (The) (NYSE:MAC) will announce its earnings results after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $0.98 per share for the quarter. Macerich Company (The) has set its FY17 guidance at $3.90-4.00 EPS.
Macerich Company (The) (NYSE:MAC) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $247.20 million for the quarter, compared to analysts’ expectations of $218.62 million. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. Macerich Company (The)’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 EPS. On average, analysts expect Macerich Company (The) to post $1.07 EPS for the current fiscal year and $0.85 EPS for the next fiscal year.
Shares of Macerich Company (MAC) traded up 0.33% during midday trading on Monday, reaching $56.95. The company’s stock had a trading volume of 37,469 shares. The stock has a market capitalization of $8.05 billion, a PE ratio of 56.00 and a beta of 0.80. The stock’s 50 day moving average is $55.45 and its 200 day moving average is $58.15. Macerich Company has a 12 month low of $52.12 and a 12 month high of $77.93.
Several brokerages have issued reports on MAC. Zacks Investment Research raised shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub raised shares of Macerich Company (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Barclays PLC cut their target price on shares of Macerich Company (The) to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Jefferies Group LLC reissued a “hold” rating and set a $57.00 target price on shares of Macerich Company (The) in a research note on Monday, July 17th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Macerich Company (The) in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Macerich Company (The) currently has an average rating of “Hold” and an average price target of $66.93.
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Macerich Company (The) Company Profile
The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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