Macerich Co Expected to Post Q1 2018 Earnings of $0.82 Per Share (MAC)

Macerich Co (NYSE:MAC) – Boenning Scattergood decreased their Q1 2018 earnings per share estimates for Macerich in a report released on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings of $0.82 per share for the quarter, down from their prior forecast of $0.97. Boenning Scattergood currently has a “Buy” rating and a $75.00 target price on the stock. Boenning Scattergood also issued estimates for Macerich’s Q2 2018 earnings at $0.95 EPS, Q3 2018 earnings at $1.00 EPS, FY2018 earnings at $3.99 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.98 EPS, Q3 2019 earnings at $1.03 EPS, Q4 2019 earnings at $1.22 EPS and FY2019 earnings at $4.18 EPS.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.11). The company had revenue of $245.30 million during the quarter, compared to analysts’ expectations of $237.90 million. Macerich had a return on equity of 3.91% and a net margin of 14.71%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS.

Several other research analysts have also recently issued reports on MAC. Morgan Stanley reissued a “hold” rating on shares of Macerich in a report on Tuesday. Sandler O’Neill reissued a “hold” rating and set a $71.00 target price on shares of Macerich in a report on Tuesday, January 23rd. Mizuho reissued a “hold” rating and set a $60.00 target price on shares of Macerich in a report on Friday, November 10th. Barclays reduced their target price on shares of Macerich from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, January 30th. Finally, BMO Capital Markets set a $55.00 target price on shares of Macerich and gave the stock a “hold” rating in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. Macerich currently has an average rating of “Hold” and a consensus price target of $67.03.

Macerich (MAC) opened at $60.19 on Thursday. The stock has a market cap of $8,397.10, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 2.82 and a beta of 0.83. Macerich has a fifty-two week low of $52.12 and a fifty-two week high of $69.73. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.30.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st will be issued a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.96 dividend on an annualized basis and a yield of 4.92%. Macerich’s payout ratio is 290.20%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MAC. Meeder Asset Management Inc. purchased a new position in Macerich in the third quarter valued at $216,000. Amica Pension Fund Board of Trustees purchased a new position in Macerich in the third quarter valued at $229,000. Miracle Mile Advisors LLC purchased a new position in Macerich in the fourth quarter valued at $250,000. Cowen Prime Services LLC purchased a new position in Macerich in the fourth quarter valued at $263,000. Finally, Koch Industries Inc. purchased a new position in Macerich in the second quarter valued at $289,000. 98.21% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: This piece was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/02/08/macerich-co-expected-to-post-q1-2018-earnings-of-0-82-per-share-mac.html.

Macerich 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.

Earnings History and Estimates for Macerich (NYSE:MAC)

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply