$1.14 EPS Expected for Macerich Co (MAC) This Quarter

Wall Street brokerages expect Macerich Co (NYSE:MAC) to report $1.14 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Macerich’s earnings, with the highest EPS estimate coming in at $1.15 and the lowest estimate coming in at $1.12. Macerich posted earnings of $1.17 per share in the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The business is scheduled to issue its next earnings results on Monday, February 5th.

On average, analysts expect that Macerich will report full year earnings of $3.94 per share for the current year, with EPS estimates ranging from $3.92 to $3.95. For the next financial year, analysts forecast that the business will post earnings of $4.08 per share, with EPS estimates ranging from $4.02 to $4.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Macerich.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.86). Macerich had a return on equity of 3.56% and a net margin of 14.92%. The firm had revenue of $242.50 million during the quarter, compared to analyst estimates of $226.00 million. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis.

Several equities research analysts recently issued reports on the company. Wells Fargo & Co upgraded Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective on the stock in a report on Tuesday, December 19th. BMO Capital Markets set a $55.00 price objective on Macerich and gave the stock a “hold” rating in a report on Monday, October 30th. Royal Bank of Canada reiterated a “buy” rating and issued a $66.00 price objective on shares of Macerich in a report on Thursday, November 2nd. JPMorgan Chase & Co. upgraded Macerich from a “neutral” rating to an “overweight” rating and set a $68.00 price objective on the stock in a report on Tuesday, September 26th. Finally, KeyCorp reiterated a “buy” rating and issued a $75.00 price objective on shares of Macerich in a report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $66.85.

Institutional investors have recently modified their holdings of the company. Valeo Financial Advisors LLC acquired a new position in shares of Macerich during the 3rd quarter worth approximately $621,000. Bluestein R H & Co. acquired a new position in Macerich in the third quarter valued at approximately $632,000. TCW Group Inc. lifted its holdings in Macerich by 19.8% in the third quarter. TCW Group Inc. now owns 286,032 shares of the real estate investment trust’s stock valued at $15,723,000 after acquiring an additional 47,216 shares during the last quarter. Amica Mutual Insurance Co. acquired a new position in Macerich in the third quarter valued at approximately $310,000. Finally, Third Point LLC acquired a new position in Macerich in the third quarter valued at approximately $94,878,000. Institutional investors and hedge funds own 97.57% of the company’s stock.

Macerich (NYSE:MAC) traded up $0.85 during mid-day trading on Friday, reaching $63.75. The company had a trading volume of 1,346,454 shares, compared to its average volume of 1,561,492. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25. Macerich has a 12 month low of $52.12 and a 12 month high of $70.70. The firm has a market cap of $8,871.51, a PE ratio of 60.71, a price-to-earnings-growth ratio of 2.94 and a beta of 0.88.

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About Macerich

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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Earnings History and Estimates for Macerich (NYSE:MAC)

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