Zacks: Brokerages Anticipate Taubman Centers, Inc. (TCO) to Announce $1.02 Earnings Per Share

Equities analysts expect Taubman Centers, Inc. (NYSE:TCO) to announce earnings per share (EPS) of $1.02 for the current fiscal quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for Taubman Centers’ earnings, with the highest EPS estimate coming in at $1.07 and the lowest estimate coming in at $0.99. Taubman Centers posted earnings per share of $1.03 in the same quarter last year, which suggests a negative year over year growth rate of 1%. The firm is expected to issue its next earnings report on Thursday, February 14th.

According to Zacks, analysts expect that Taubman Centers will report full-year earnings of $3.79 per share for the current fiscal year, with EPS estimates ranging from $3.77 to $3.83. For the next year, analysts expect that the business will report earnings of $3.84 per share, with EPS estimates ranging from $3.75 to $3.91. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Taubman Centers.

Taubman Centers (NYSE:TCO) last issued its earnings results on Monday, October 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.52). Taubman Centers had a negative return on equity of 45.76% and a net margin of 14.42%. The company had revenue of $159.12 million during the quarter, compared to analysts’ expectations of $159.68 million. During the same period in the previous year, the company earned $0.83 EPS. Taubman Centers’s quarterly revenue was up 3.9% on a year-over-year basis.

Several brokerages have recently weighed in on TCO. BMO Capital Markets set a $62.00 target price on Taubman Centers and gave the stock a “hold” rating in a research report on Monday, July 30th. Scotiabank began coverage on Taubman Centers in a research report on Tuesday, October 16th. They issued an “underperform” rating for the company. Sandler O’Neill raised Taubman Centers from a “hold” rating to a “buy” rating and upped their target price for the stock from $58.00 to $64.00 in a research report on Monday, October 22nd. Citigroup upped their target price on Taubman Centers from $61.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Finally, Evercore ISI downgraded Taubman Centers from an “in-line” rating to an “underperform” rating and set a $63.00 target price for the company. in a research report on Monday, September 10th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.31.

In other Taubman Centers news, Director Jonathan Litt purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average price of $54.32 per share, for a total transaction of $54,320.00. Following the completion of the purchase, the director now owns 3,653 shares in the company, valued at approximately $198,430.96. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 31.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TCO. Guggenheim Capital LLC raised its holdings in Taubman Centers by 172.6% during the 1st quarter. Guggenheim Capital LLC now owns 26,208 shares of the real estate investment trust’s stock valued at $1,493,000 after buying an additional 16,594 shares during the last quarter. Royal Bank of Canada raised its holdings in Taubman Centers by 185.7% during the 1st quarter. Royal Bank of Canada now owns 28,053 shares of the real estate investment trust’s stock valued at $1,596,000 after buying an additional 18,235 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Taubman Centers by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 422,725 shares of the real estate investment trust’s stock valued at $24,058,000 after buying an additional 17,472 shares during the last quarter. Bank of Montreal Can raised its holdings in Taubman Centers by 159.2% during the 2nd quarter. Bank of Montreal Can now owns 36,848 shares of the real estate investment trust’s stock valued at $2,166,000 after buying an additional 22,631 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Taubman Centers during the 2nd quarter valued at $215,000.

Shares of NYSE TCO traded down $1.46 on Wednesday, hitting $53.42. The company had a trading volume of 533,170 shares, compared to its average volume of 636,165. Taubman Centers has a 12-month low of $50.65 and a 12-month high of $66.61. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 3.73 and a beta of 0.64.

About Taubman Centers

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 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.

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

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