Macerich Co (MAC) Expected to Post Earnings of $0.80 Per Share

Equities analysts expect Macerich Co (NYSE:MAC) to post $0.80 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Macerich’s earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.83. Macerich posted earnings of $0.82 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 2.4%. The business is expected to announce its next quarterly earnings results on Wednesday, May 1st.

According to Zacks, analysts expect that Macerich will report full-year earnings of $3.56 per share for the current year, with EPS estimates ranging from $3.54 to $3.57. For the next year, analysts expect that the firm will post earnings of $3.74 per share, with EPS estimates ranging from $3.65 to $3.86. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Macerich.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $1.09 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.09. Macerich had a net margin of 6.25% and a return on equity of 2.41%. The business had revenue of $246.90 million during the quarter, compared to analyst estimates of $228.64 million. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year.

Several research analysts have recently commented on MAC shares. Mizuho set a $51.00 price objective on shares of Macerich and gave the company a “buy” rating in a research note on Sunday, December 16th. JPMorgan Chase & Co. lowered shares of Macerich from a “neutral” rating to an “underweight” rating in a research note on Wednesday, December 19th. Zacks Investment Research lowered shares of Macerich from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $46.00 target price on shares of Macerich in a report on Wednesday, February 13th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $46.00 target price on shares of Macerich in a report on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Macerich has an average rating of “Hold” and an average target price of $55.62.

In other Macerich news, SVP Kenneth Volk sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $42.19, for a total transaction of $210,950.00. Following the sale, the senior vice president now owns 12,399 shares of the company’s stock, valued at $523,113.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.76% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in MAC. Cohen & Steers Inc. raised its holdings in Macerich by 1,008.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,907,664 shares of the real estate investment trust’s stock worth $125,844,000 after purchasing an additional 2,645,377 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Macerich by 9,289.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,893,198 shares of the real estate investment trust’s stock worth $81,938,000 after purchasing an additional 1,873,034 shares in the last quarter. Norges Bank acquired a new stake in Macerich during the fourth quarter worth approximately $63,471,000. Morgan Stanley raised its holdings in Macerich by 31.6% during the third quarter. Morgan Stanley now owns 5,757,801 shares of the real estate investment trust’s stock worth $318,350,000 after purchasing an additional 1,383,314 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC acquired a new stake in Macerich during the fourth quarter worth approximately $48,232,000. 97.52% of the stock is currently owned by institutional investors.

NYSE MAC opened at $43.11 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.68. Macerich has a one year low of $40.90 and a one year high of $60.95. The company has a market capitalization of $6.12 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 6.92 and a beta of 0.88.

About Macerich

Macerich, an S&P 500 company, is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Earnings History and Estimates for Macerich (NYSE:MAC)

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