Taubman Centers Expected to Post FY2018 Earnings of $3.76 Per Share (TCO)

Taubman Centers (NYSE:TCO) – Research analysts at Jefferies Group decreased their FY2018 earnings per share (EPS) estimates for Taubman Centers in a note issued to investors on Thursday, April 12th. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will earn $3.76 per share for the year, down from their prior estimate of $3.77. Jefferies Group also issued estimates for Taubman Centers’ FY2019 earnings at $3.95 EPS.

How to Become a New Pot Stock Millionaire

Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.01. Taubman Centers had a negative return on equity of 57.04% and a net margin of 11.63%. The company had revenue of $172.18 million during the quarter, compared to the consensus estimate of $164.26 million. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on TCO. Zacks Investment Research upgraded Taubman Centers from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Mizuho set a $63.00 target price on Taubman Centers and gave the stock a “hold” rating in a research note on Friday, February 16th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research note on Monday, February 12th. BMO Capital Markets reaffirmed a “hold” rating and set a $62.00 target price on shares of Taubman Centers in a research note on Tuesday, January 9th. Finally, Citigroup raised their target price on Taubman Centers from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.22.

Shares of TCO opened at $57.48 on Monday. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $67.19. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of -23.70. The stock has a market cap of $3,479.15, a PE ratio of 15.54, a P/E/G ratio of 3.40 and a beta of 0.54.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were paid a dividend of $0.655 per share. The ex-dividend date was Wednesday, March 14th. This represents a $2.62 annualized dividend and a yield of 4.56%. This is a boost from Taubman Centers’s previous quarterly dividend of $0.63. Taubman Centers’s dividend payout ratio (DPR) is currently 70.81%.

In other Taubman Centers news, Director Craig M. Hatkoff sold 1,350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $58.62, for a total value of $79,137.00. Following the completion of the sale, the director now owns 6,013 shares of the company’s stock, valued at $352,482.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 31.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its stake in Taubman Centers by 874.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 2,196 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Taubman Centers in the fourth quarter valued at approximately $171,000. Lourd Capital LLC acquired a new stake in Taubman Centers in the fourth quarter valued at approximately $218,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Taubman Centers in the fourth quarter valued at approximately $225,000. Finally, Alps Advisors Inc. acquired a new stake in Taubman Centers in the fourth quarter valued at approximately $232,000.

TRADEMARK VIOLATION WARNING: This piece of content was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://ledgergazette.com/2018/04/17/taubman-centers-expected-to-post-fy2018-earnings-of-3-76-per-share-tco.html.

Taubman Centers Company Profile

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

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

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

Leave a Reply