Boenning Scattergood Equities Analysts Reduce Earnings Estimates for Macerich Co (NYSE:MAC)

Macerich Co (NYSE:MAC) – Equities researchers at Boenning Scattergood reduced their Q3 2018 EPS estimates for Macerich in a research report issued on Tuesday, according to Zacks Investment Research. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will post earnings of $1.01 per share for the quarter, down from their prior forecast of $1.02. Boenning Scattergood currently has a “Buy” rating and a $75.00 price target on the stock. Boenning Scattergood also issued estimates for Macerich’s Q4 2018 earnings at $1.13 EPS.

Several other research analysts have also commented on the company. Wells Fargo & Co upgraded Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price target for the company in a research report on Tuesday, December 19th. Evercore ISI lowered Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price target for the company. in a research report on Monday, December 11th. Mizuho restated a “hold” rating and set a $60.00 price target on shares of Macerich in a research report on Friday, November 10th. BMO Capital Markets set a $55.00 price target on Macerich and gave the stock a “hold” rating in a research report on Monday, October 30th. Finally, Royal Bank of Canada restated a “buy” rating and set a $66.00 price target on shares of Macerich in a research report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Macerich presently has an average rating of “Hold” and an average target price of $66.85.

Macerich (MAC) traded up $1.46 on Thursday, hitting $63.02. The stock had a trading volume of 1,293,400 shares, compared to its average volume of 1,640,227. Macerich has a 1-year low of $52.12 and a 1-year high of $70.96. The stock has a market capitalization of $8,665.98, a price-to-earnings ratio of 60.02, a P/E/G ratio of 2.87 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.85 and a current ratio of 0.85.

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

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Macerich by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock valued at $159,359,000 after purchasing an additional 143,975 shares during the period. Dimensional Fund Advisors LP raised its stake in Macerich by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock valued at $112,533,000 after buying an additional 49,918 shares in the last quarter. Third Point LLC acquired a new stake in Macerich in the third quarter valued at $94,878,000. Canada Pension Plan Investment Board raised its stake in Macerich by 39.4% in the third quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock valued at $68,849,000 after buying an additional 353,900 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Macerich by 6.3% in the third quarter. Legal & General Group Plc now owns 1,224,305 shares of the real estate investment trust’s stock valued at $67,301,000 after buying an additional 72,046 shares in the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Boenning Scattergood Equities Analysts Reduce Earnings Estimates for Macerich Co (NYSE:MAC)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://ledgergazette.com/2018/01/18/q3-2018-eps-estimates-for-macerich-co-mac-decreased-by-boenning-scattergood.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.

Get a free copy of the Zacks research report on Macerich (MAC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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