Zacks: IRSA Propiedades Comerciales SA (IRCP) Given $25.00 Average Price Target by Brokerages

Shares of IRSA Propiedades Comerciales SA (NASDAQ:IRCP) have been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Brokers have set a 1-year consensus price objective of $25.00 for the company, according to Zacks. Zacks has also assigned IRSA Propiedades Comerciales an industry rank of 102 out of 256 based on the ratings given to related companies.

IRCP has been the topic of several research reports. Zacks Investment Research raised shares of IRSA Propiedades Comerciales from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Thursday, January 24th. ValuEngine lowered shares of IRSA Propiedades Comerciales from a “hold” rating to a “sell” rating in a research report on Monday, February 4th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Newfoundland Capital Management raised its position in shares of IRSA Propiedades Comerciales by 4.8% in the fourth quarter. Newfoundland Capital Management now owns 205,395 shares of the financial services provider’s stock valued at $3,703,000 after purchasing an additional 9,428 shares during the period. 683 Capital Management LLC raised its position in shares of IRSA Propiedades Comerciales by 76.8% in the fourth quarter. 683 Capital Management LLC now owns 72,050 shares of the financial services provider’s stock valued at $1,299,000 after purchasing an additional 31,303 shares during the period. Macquarie Group Ltd. bought a new stake in shares of IRSA Propiedades Comerciales in the fourth quarter valued at approximately $1,010,000. VR Advisory Services Ltd bought a new stake in shares of IRSA Propiedades Comerciales in the fourth quarter valued at approximately $932,000. Finally, City of London Investment Management Co. Ltd. bought a new stake in shares of IRSA Propiedades Comerciales in the fourth quarter valued at approximately $480,000. 6.95% of the stock is currently owned by institutional investors.

IRCP stock traded down $0.35 during mid-day trading on Tuesday, hitting $18.25. The company had a trading volume of 968 shares, compared to its average volume of 14,618. The firm has a market cap of $585.97 million, a price-to-earnings ratio of 0.88 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.92 and a current ratio of 3.93. IRSA Propiedades Comerciales has a 12 month low of $16.82 and a 12 month high of $38.80.

IRSA Propiedades Comerciales (NASDAQ:IRCP) last announced its quarterly earnings data on Friday, February 22nd. The financial services provider reported ($4.25) EPS for the quarter, missing the consensus estimate of $0.35 by ($4.60). The company had revenue of $46.04 million during the quarter, compared to the consensus estimate of $54.51 million. IRSA Propiedades Comerciales had a return on equity of 16.70% and a net margin of 140.70%. Analysts forecast that IRSA Propiedades Comerciales will post -1.93 earnings per share for the current year.

About IRSA Propiedades Comerciales

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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