Taubman Centers (TCO) Issues FY18 Earnings Guidance

Taubman Centers (NYSE:TCO) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $3.72-3.86 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.79.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Taubman Centers from a hold rating to a sell rating in a research report on Wednesday, January 10th. BMO Capital Markets reissued a hold rating and issued a $62.00 target price on shares of Taubman Centers in a report on Tuesday, January 9th. Mizuho set a $63.00 price target on Taubman Centers and gave the stock a hold rating in a research note on Friday, February 16th. Boenning Scattergood restated a hold rating on shares of Taubman Centers in a research note on Monday, February 12th. Finally, Sandler O’Neill set a $63.00 target price on Taubman Centers and gave the company a hold rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Taubman Centers currently has a consensus rating of Hold and a consensus price target of $63.22.

Shares of TCO stock traded up $0.68 during trading hours on Thursday, reaching $54.01. 761,999 shares of the company’s stock were exchanged, compared to its average volume of 748,925. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of -23.70. Taubman Centers has a fifty-two week low of $44.78 and a fifty-two week high of $66.61. The company has a market cap of $3,271.45, a PE ratio of 14.60, a PEG ratio of 3.20 and a beta of 0.54.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. The company had revenue of $161.49 million for the quarter, compared to the consensus estimate of $152.82 million. Taubman Centers had a negative return on equity of 57.04% and a net margin of 11.63%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. equities analysts forecast that Taubman Centers will post 3.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were paid a $0.655 dividend. The ex-dividend date was Wednesday, March 14th. This is a positive change from Taubman Centers’s previous quarterly dividend of $0.63. This represents a $2.62 dividend on an annualized basis and a yield of 4.85%. Taubman Centers’s dividend payout ratio (DPR) is currently 70.81%.

In other Taubman Centers news, Director Craig M. Hatkoff sold 1,350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $58.62, for a total value of $79,137.00. Following the transaction, the director now directly owns 6,013 shares of the company’s stock, valued at approximately $352,482.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 31.20% 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 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

Earnings History and Estimates for Taubman Centers (NYSE:TCO)

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