Equities research analysts predict that Taubman Centers, Inc. (NYSE:TCO) will report $152.25 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Taubman Centers’ earnings, with the highest sales estimate coming in at $160.30 million and the lowest estimate coming in at $142.43 million. Taubman Centers posted sales of $142.67 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The company is scheduled to announce its next earnings results on Monday, November 4th.
On average, analysts expect that Taubman Centers will report full-year sales of $617.09 million for the current fiscal year, with estimates ranging from $582.34 million to $649.26 million. For the next fiscal year, analysts anticipate that the business will post sales of $635.19 million, with estimates ranging from $591.86 million to $676.59 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Taubman Centers.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.73). Taubman Centers had a negative return on equity of 20.52% and a net margin of 9.68%. The business had revenue of $161.60 million during the quarter, compared to the consensus estimate of $162.17 million. During the same quarter last year, the firm posted $0.92 earnings per share. Taubman Centers’s revenue was up 5.8% compared to the same quarter last year.
In other Taubman Centers news, Director Mayree C. Clark bought 3,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were bought at an average price of $51.94 per share, with a total value of $155,820.00. Following the purchase, the director now directly owns 6,478 shares in the company, valued at approximately $336,467.32. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 31.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of Taubman Centers by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 962,631 shares of the real estate investment trust’s stock worth $43,792,000 after purchasing an additional 4,356 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Taubman Centers by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 93,300 shares of the real estate investment trust’s stock worth $4,244,000 after purchasing an additional 2,103 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Taubman Centers by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 755,110 shares of the real estate investment trust’s stock worth $34,349,000 after purchasing an additional 53,984 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Taubman Centers by 51.7% during the fourth quarter. Two Sigma Advisers LP now owns 20,634 shares of the real estate investment trust’s stock worth $939,000 after purchasing an additional 7,035 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Taubman Centers during the fourth quarter worth $2,312,000. 99.14% of the stock is currently owned by institutional investors.
TCO traded up $0.31 during trading on Friday, reaching $40.00. The company had a trading volume of 426,579 shares, compared to its average volume of 385,851. The company has a 50-day moving average of $41.16. The firm has a market capitalization of $2.45 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 2.75 and a beta of 0.71. Taubman Centers has a 12-month low of $39.16 and a 12-month high of $65.50.
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 26 regional, super-regional and outlet shopping centers in the U.S. and Asia and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.
Further Reading: What is net income?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.