Macerich Company (The) (NYSE:MAC) Releases FY17 Earnings Guidance

Macerich Company (The) (NYSE:MAC) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.90-4.00 for the period, compared to the Thomson Reuters consensus estimate of $3.95.

Several analysts have weighed in on the stock. BidaskClub raised shares of Macerich Company (The) from a hold rating to a buy rating in a research note on Wednesday. Zacks Investment Research raised shares of Macerich Company (The) from a sell rating to a hold rating in a research note on Tuesday. Boenning Scattergood reissued a hold rating on shares of Macerich Company (The) in a research note on Friday, August 4th. Barclays PLC decreased their price target on shares of Macerich Company (The) to $61.00 and set an equal weight rating for the company in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a hold rating and issued a $57.00 price target on shares of Macerich Company (The) in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Macerich Company (The) has a consensus rating of Hold and an average target price of $70.46.

Macerich Company (NYSE:MAC) traded down 2.02% during midday trading on Friday, hitting $56.72. 1,682,781 shares of the stock traded hands. The firm has a market cap of $8.02 billion, a P/E ratio of 55.77 and a beta of 0.77. The company’s 50-day moving average is $58.35 and its 200 day moving average is $62.09. Macerich Company has a 12-month low of $54.98 and a 12-month high of $84.79.

Macerich Company (The) (NYSE:MAC) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.04. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The firm had revenue of $247.20 million for the quarter, compared to analyst estimates of $218.62 million. During the same period last year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts anticipate that Macerich Company will post $1.03 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 18th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Wednesday, August 16th. Macerich Company (The)’s dividend payout ratio is presently 278.43%.

In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $58.13, for a total value of $5,813,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.75% of the stock is owned by company insiders.

COPYRIGHT VIOLATION NOTICE: This story was originally reported by Rincon Hill News and is the sole property of of Rincon Hill News. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://rinconhillneighbors.org/2017/08/12/macerich-company-the-nysemac-releases-fy17-earnings-guidance-updated.html.

Macerich Company (The) Company Profile

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

Earnings History and Estimates for Macerich Company (The) (NYSE:MAC)

Receive News & Ratings for Macerich Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich Company (The) and related companies with our FREE daily email newsletter.

 

Latest News



Leave a Reply

 
© 2006-2017 Rincon Hill News.