Zacks: Analysts Anticipate Taubman Centers, Inc. (NYSE:TCO) Will Post Earnings of $0.89 Per Share

Analysts expect that Taubman Centers, Inc. (NYSE:TCO) will report earnings of $0.89 per share for the current quarter, Zacks reports. Seven analysts have made estimates for Taubman Centers’ earnings, with the highest EPS estimate coming in at $0.94 and the lowest estimate coming in at $0.80. Taubman Centers reported earnings per share of $1.01 in the same quarter last year, which would indicate a negative year over year growth rate of 11.9%. The company is expected to report its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that Taubman Centers will report full year earnings of $3.64 per share for the current fiscal year, with EPS estimates ranging from $3.39 to $3.73. For the next fiscal year, analysts forecast that the company will report earnings of $3.80 per share, with EPS estimates ranging from $3.74 to $3.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Taubman Centers.

Taubman Centers (NYSE:TCO) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.73). Taubman Centers had a net margin of 9.68% and a negative return on equity of 20.52%. The company had revenue of $161.60 million for the quarter, compared to the consensus estimate of $162.17 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year.

Several equities research analysts have issued reports on TCO shares. Citigroup set a $43.00 target price on shares of Taubman Centers and gave the company a “hold” rating in a research report on Friday, June 28th. Morgan Stanley set a $45.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a report on Thursday, June 20th. ValuEngine lowered shares of Taubman Centers from a “sell” rating to a “strong sell” rating in a report on Saturday, June 22nd. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Finally, Deutsche Bank set a $60.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a report on Tuesday, June 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Taubman Centers currently has an average rating of “Hold” and an average price target of $55.80.

Taubman Centers stock traded down $1.23 during mid-day trading on Friday, hitting $38.20. 666,390 shares of the company traded hands, compared to its average volume of 572,984. Taubman Centers has a one year low of $38.13 and a one year high of $65.50. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 2.66 and a beta of 0.71. The stock has a fifty day moving average price of $40.55 and a 200-day moving average price of $47.02.

In other Taubman Centers news, Director Michael J. Embler acquired 5,000 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $39.11 per share, for a total transaction of $195,550.00. Following the acquisition, the director now owns 9,301 shares in the company, valued at approximately $363,762.11. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 31.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Treasurer of the State of North Carolina grew its position in shares of Taubman Centers by 21.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 28,734 shares of the real estate investment trust’s stock worth $1,173,000 after buying an additional 5,130 shares during the period. Royal Bank of Canada grew its position in shares of Taubman Centers by 24.0% in the 2nd quarter. Royal Bank of Canada now owns 27,422 shares of the real estate investment trust’s stock worth $1,119,000 after buying an additional 5,299 shares during the period. Pictet Asset Management Ltd. grew its position in shares of Taubman Centers by 9.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 11,300 shares of the real estate investment trust’s stock worth $461,000 after buying an additional 1,000 shares during the period. Nuveen Asset Management LLC grew its position in shares of Taubman Centers by 13,569.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 635,234 shares of the real estate investment trust’s stock worth $25,937,000 after buying an additional 630,587 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Taubman Centers by 10.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 103,218 shares of the real estate investment trust’s stock worth $4,214,000 after buying an additional 9,417 shares during the period. Institutional investors own 99.07% of the company’s stock.

About Taubman Centers

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.

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