Analysts Anticipate Taubman Centers, Inc. (TCO) Will Post Earnings of $1.01 Per Share

Analysts expect that Taubman Centers, Inc. (NYSE:TCO) will report earnings of $1.01 per share for the current fiscal quarter, according to Zacks. Fifteen analysts have made estimates for Taubman Centers’ earnings, with the lowest EPS estimate coming in at $0.96 and the highest estimate coming in at $1.04. Taubman Centers also posted earnings per share of $1.01 in the same quarter last year. The firm is scheduled to report its next earnings results on Thursday, February 8th.

On average, analysts expect that Taubman Centers will report full year earnings of $3.70 per share for the current year, with EPS estimates ranging from $3.67 to $3.75. For the next fiscal year, analysts expect that the firm will post earnings of $3.83 per share, with EPS estimates ranging from $3.68 to $4.00. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Taubman Centers.

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

Several research analysts have commented on TCO shares. Jefferies Group reaffirmed a “hold” rating and set a $57.00 target price on shares of Taubman Centers in a report on Tuesday, September 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a report on Friday, November 3rd. BMO Capital Markets raised Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a research note on Wednesday, December 13th. JPMorgan Chase & Co. downgraded Taubman Centers from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $64.00 to $57.00 in a research note on Tuesday, September 26th. Finally, Mizuho reissued a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. Taubman Centers has a consensus rating of “Hold” and an average price target of $64.75.

Shares of Taubman Centers (NYSE:TCO) traded down $1.47 during mid-day trading on Tuesday, reaching $63.64. The company had a trading volume of 3,609,800 shares, compared to its average volume of 1,801,100. The company has a market cap of $3,953.00, a price-to-earnings ratio of 60.61, a P/E/G ratio of 5.09 and a beta of 0.61. Taubman Centers has a twelve month low of $44.78 and a twelve month high of $76.79. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Thursday, December 14th. Taubman Centers’s dividend payout ratio is currently 238.10%.

In other news, COO William S. Taubman sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total value of $2,193,800.00. Following the completion of the transaction, the chief operating officer now directly owns 67,633 shares of the company’s stock, valued at $4,239,236.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Cornelia Connelly Marakovits bought 4,000 shares of Taubman Centers stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $63.35 per share, with a total value of $253,400.00. Following the completion of the acquisition, the director now owns 7,403 shares of the company’s stock, valued at $468,980.05. The disclosure for this purchase can be found here. Insiders have sold a total of 93,318 shares of company stock valued at $5,849,897 over the last three months. Corporate insiders own 31.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of TCO. Land & Buildings Investment Management LLC lifted its stake in Taubman Centers by 28.1% in the second quarter. Land & Buildings Investment Management LLC now owns 920,447 shares of the real estate investment trust’s stock valued at $54,813,000 after purchasing an additional 202,000 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Taubman Centers by 162.0% in the third quarter. JPMorgan Chase & Co. now owns 274,531 shares of the real estate investment trust’s stock valued at $13,814,000 after purchasing an additional 169,730 shares during the last quarter. Sapience Investments LLC lifted its stake in Taubman Centers by 2,828.6% in the second quarter. Sapience Investments LLC now owns 159,610 shares of the real estate investment trust’s stock valued at $9,505,000 after purchasing an additional 154,160 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Taubman Centers by 21.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 739,620 shares of the real estate investment trust’s stock valued at $36,760,000 after purchasing an additional 131,387 shares during the last quarter. Finally, PointState Capital LP purchased a new stake in shares of Taubman Centers during the second quarter worth $6,592,000.

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Taubman Centers Company Profile

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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