Zacks: Analysts Expect Macerich Company (The) (MAC) to Announce $1.14 EPS

Wall Street brokerages expect that Macerich Company (The) (NYSE:MAC) will post $1.14 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Macerich Company (The)’s earnings, with the lowest EPS estimate coming in at $1.11 and the highest estimate coming in at $1.15. Macerich Company (The) posted earnings of $0.26 per share in the same quarter last year, which would suggest a positive year over year growth rate of 338.5%. The business is scheduled to issue its next quarterly earnings report on Monday, February 5th.

According to Zacks, analysts expect that Macerich Company (The) will report full year earnings of $3.95 per share for the current fiscal year, with EPS estimates ranging from $3.94 to $3.97. For the next financial year, analysts forecast that the business will report earnings of $4.11 per share, with EPS estimates ranging from $4.02 to $4.16. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Macerich Company (The).

Macerich Company (The) (NYSE:MAC) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). The company had revenue of $242.50 million for the quarter, compared to analyst estimates of $226.00 million. Macerich Company (The) had a return on equity of 3.56% and a net margin of 14.92%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 earnings per share.

A number of brokerages have recently commented on MAC. Mizuho reiterated a “hold” rating and issued a $60.00 target price on shares of Macerich Company (The) in a research report on Friday. Royal Bank Of Canada reiterated a “buy” rating and issued a $66.00 target price on shares of Macerich Company (The) in a research report on Thursday, November 2nd. Boenning Scattergood set a $75.00 target price on shares of Macerich Company (The) and gave the company a “buy” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $55.00 target price on shares of Macerich Company (The) and gave the company a “hold” rating in a research report on Monday, October 30th. Finally, KeyCorp reiterated a “buy” rating and issued a $75.00 target price on shares of Macerich Company (The) in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. Macerich Company (The) has a consensus rating of “Hold” and a consensus target price of $66.80.

Large investors have recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Macerich Company (The) by 33.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,862 shares of the real estate investment trust’s stock valued at $2,082,000 after acquiring an additional 9,044 shares in the last quarter. Apollo Management Holdings L.P. acquired a new stake in Macerich Company (The) in the second quarter valued at approximately $3,039,000. Kempen Capital Management N.V. raised its holdings in Macerich Company (The) by 45.2% in the second quarter. Kempen Capital Management N.V. now owns 83,913 shares of the real estate investment trust’s stock valued at $4,871,000 after acquiring an additional 26,139 shares in the last quarter. Toronto Dominion Bank raised its holdings in Macerich Company (The) by 23.8% in the second quarter. Toronto Dominion Bank now owns 40,383 shares of the real estate investment trust’s stock valued at $2,344,000 after acquiring an additional 7,751 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Macerich Company (The) by 10.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,017,873 shares of the real estate investment trust’s stock valued at $59,098,000 after acquiring an additional 98,499 shares in the last quarter. 97.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Macerich Company (MAC) traded up $1.96 during midday trading on Friday, hitting $64.37. 5,479,200 shares of the stock were exchanged, compared to its average volume of 1,439,448. The firm has a market capitalization of $9,061.55, a PE ratio of 16.17, a price-to-earnings-growth ratio of 3.04 and a beta of 0.80. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.85 and a quick ratio of 0.85. Macerich Company has a 1-year low of $52.12 and a 1-year high of $73.34.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a $0.74 dividend. This is a boost from Macerich Company (The)’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, November 9th. This represents a $2.96 annualized dividend and a yield of 4.60%. Macerich Company (The)’s dividend payout ratio (DPR) is 281.91%.

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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.

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

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