Taubman Centers, Inc. (TCO) Expected to Post Quarterly Sales of $164.40 Million

Equities analysts predict that Taubman Centers, Inc. (NYSE:TCO) will report sales of $164.40 million for the current fiscal quarter, Zacks reports. Fifteen analysts have made estimates for Taubman Centers’ earnings. The lowest sales estimate is $155.86 million and the highest is $171.89 million. Taubman Centers reported sales of $166.19 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.1%. The company is scheduled to report its next earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Taubman Centers will report full year sales of $164.40 million for the current fiscal year, with estimates ranging from $573.18 million to $633.44 million. For the next fiscal year, analysts forecast that the company will report sales of $629.61 million per share, with estimates ranging from $573.73 million to $675.98 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Taubman Centers.

Taubman Centers (NYSE:TCO) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.06). Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The business had revenue of $153.20 million for the quarter, compared to analyst estimates of $155.95 million. During the same period last year, the firm earned $0.94 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year.

Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Taubman Centers from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Jefferies Group reissued a “neutral” rating on shares of Taubman Centers in a research report on Friday, October 13th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a research report on Friday, November 3rd. Mizuho reissued a “neutral” rating on shares of Taubman Centers in a research report on Wednesday, November 8th. Finally, Morgan Stanley cut shares of Taubman Centers from an “equal weight” rating to an “underweight” rating in a research report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.14.

Shares of Taubman Centers (NYSE TCO) traded up $0.20 on Friday, reaching $58.89. 856,047 shares of the company’s stock traded hands, compared to its average volume of 634,684. Taubman Centers has a 52 week low of $44.78 and a 52 week high of $76.79. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $3,550.00, a PE ratio of 15.44, a PEG ratio of 4.58 and a beta of 0.52.

Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning increased its stake in Taubman Centers by 8.0% during the second quarter. Creative Planning now owns 2,790 shares of the real estate investment trust’s stock worth $166,000 after purchasing an additional 206 shares during the period. Virtu KCG Holdings LLC purchased a new stake in Taubman Centers during the second quarter worth about $227,000. Riverhead Capital Management LLC increased its stake in Taubman Centers by 83.2% during the second quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 1,997 shares during the period. Shelton Capital Management purchased a new stake in Taubman Centers during the second quarter worth about $269,000. Finally, LS Investment Advisors LLC increased its stake in Taubman Centers by 16.8% during the second quarter. LS Investment Advisors LLC now owns 4,805 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 692 shares during the period.

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About Taubman Centers

Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.

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Earnings History and Estimates for Taubman Centers (NYSE:TCO)

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