Analysts Expect Taubman Centers, Inc. (TCO) to Post $1.01 EPS

Equities research analysts expect that Taubman Centers, Inc. (NYSE:TCO) will announce earnings of $1.01 per share for the current quarter, Zacks reports. Fifteen analysts have issued estimates for Taubman Centers’ earnings. The lowest EPS estimate is $0.96 and the highest is $1.04. Taubman Centers posted earnings per share of $0.48 in the same quarter last year, which would suggest a positive year-over-year growth rate of 110.4%. The business is expected to issue its next earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Taubman Centers will report full-year earnings of $3.70 per share for the current financial year, with EPS estimates ranging from $3.67 to $3.75. For the next year, analysts anticipate that the company will report earnings of $3.83 per share, with EPS estimates ranging from $3.68 to $4.00. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Taubman Centers.

Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). Taubman Centers had a net margin of 13.21% and a negative return on equity of 75.87%. The firm had revenue of $153.20 million for the quarter, compared to the consensus estimate of $155.95 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year.

Several equities research analysts recently weighed in on TCO shares. Jefferies Group restated a “hold” rating and set a $57.00 price target on shares of Taubman Centers in a research report on Tuesday, September 26th. Boenning Scattergood restated a “hold” rating on shares of Taubman Centers in a research report on Friday, November 3rd. BMO Capital Markets upgraded Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research report on Wednesday, December 13th. JPMorgan Chase & Co. lowered Taubman Centers from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $64.00 to $57.00 in a research report on Tuesday, September 26th. Finally, Mizuho restated a “neutral” rating on shares of Taubman Centers in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $64.75.

In related news, Director Cornelia Connelly Marakovits acquired 4,000 shares of the stock in a transaction on Friday, December 15th. The stock was acquired at an average price of $63.35 per share, for a total transaction of $253,400.00. Following the completion of the purchase, the director now owns 7,403 shares of the company’s stock, valued at $468,980.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert S. Taubman sold 58,000 shares of Taubman Centers stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $3,635,440.00. Following the transaction, the chief executive officer now owns 16,953 shares of the company’s stock, valued at approximately $1,062,614.04. The disclosure for this sale can be found here. Insiders have sold 93,318 shares of company stock valued at $5,849,897 in the last quarter. 31.20% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in TCO. Land & Buildings Investment Management LLC raised its stake in shares of Taubman Centers by 14.5% in the third quarter. Land & Buildings Investment Management LLC now owns 1,053,547 shares of the real estate investment trust’s stock worth $52,361,000 after purchasing an additional 133,100 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Taubman Centers by 14.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 608,233 shares of the real estate investment trust’s stock worth $36,221,000 after purchasing an additional 77,353 shares during the last quarter. Sarasin & Partners LLP raised its stake in shares of Taubman Centers by 6.9% in the third quarter. Sarasin & Partners LLP now owns 39,009 shares of the real estate investment trust’s stock worth $1,939,000 after purchasing an additional 2,533 shares during the last quarter. AMP Capital Investors Ltd raised its stake in shares of Taubman Centers by 228.3% in the third quarter. AMP Capital Investors Ltd now owns 67,728 shares of the real estate investment trust’s stock worth $3,366,000 after purchasing an additional 47,100 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in shares of Taubman Centers by 41.7% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 182,413 shares of the real estate investment trust’s stock worth $9,207,000 after purchasing an additional 53,713 shares during the last quarter.

Taubman Centers (TCO) traded up $0.96 during midday trading on Tuesday, hitting $66.39. The company had a trading volume of 859,468 shares, compared to its average volume of 814,150. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of -21.77. Taubman Centers has a one year low of $44.78 and a one year high of $76.79. The company has a market capitalization of $3,972.43, a price-to-earnings ratio of 63.23, a PEG ratio of 5.29 and a beta of 0.61.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, December 14th. Taubman Centers’s payout ratio is 238.10%.

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About Taubman Centers

Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.

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