Zacks: Brokerages Anticipate Macerich (MAC) Will Announce Earnings of $0.81 Per Share

Wall Street analysts expect that Macerich (NYSE:MAC) will post earnings per share of $0.81 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Macerich’s earnings. The highest EPS estimate is $0.83 and the lowest is $0.80. Macerich posted earnings per share of $0.87 in the same quarter last year, which indicates a negative year over year growth rate of 6.9%. The company is scheduled to report its next quarterly earnings report on Thursday, April 26th.

On average, analysts expect that Macerich will report full-year earnings of $3.95 per share for the current fiscal year, with EPS estimates ranging from $3.90 to $3.99. For the next financial year, analysts expect that the firm will report earnings of $4.15 per share, with EPS estimates ranging from $4.08 to $4.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Macerich.

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Macerich (NYSE:MAC) last released its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.11). The company had revenue of $245.30 million during the quarter, compared to the consensus estimate of $237.90 million. Macerich had a net margin of 14.71% and a return on equity of 3.91%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 earnings per share.



Several research analysts have weighed in on the stock. Sandler O’Neill reissued a “hold” rating and issued a $63.00 price target on shares of Macerich in a report on Monday, March 19th. Zacks Investment Research upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Deutsche Bank increased their target price on shares of Macerich from $62.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, March 28th. JPMorgan Chase lowered shares of Macerich from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $70.00 to $65.00 in a research report on Tuesday, March 27th. Finally, Mizuho set a $63.00 target price on shares of Macerich and gave the stock a “hold” rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Macerich currently has an average rating of “Hold” and an average price target of $64.83.

Macerich stock traded down $1.28 during trading hours on Friday, hitting $56.79. The company had a trading volume of 266,351 shares, compared to its average volume of 1,629,790. The stock has a market cap of $8,217.31, a P/E ratio of 14.81, a P/E/G ratio of 2.20 and a beta of 0.87. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.30. Macerich has a one year low of $52.12 and a one year high of $69.73.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Delpha Capital Management LLC acquired a new stake in Macerich in the fourth quarter worth $156,000. Tower Research Capital LLC TRC grew its holdings in Macerich by 870.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 2,924 shares during the period. Miracle Mile Advisors LLC acquired a new stake in Macerich in the fourth quarter worth $250,000. Virtu Financial LLC acquired a new stake in Macerich in the fourth quarter worth $254,000. Finally, Cowen Prime Services LLC acquired a new stake in Macerich in the fourth quarter worth $263,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

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Macerich Company Profile

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 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.

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Earnings History and Estimates for Macerich (NYSE:MAC)

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