$148.78 Million in Sales Expected for Taubman Centers, Inc. (TCO) This Quarter

Equities research analysts expect Taubman Centers, Inc. (NYSE:TCO) to announce sales of $148.78 million for the current quarter, Zacks Investment Research reports. Fourteen analysts have provided estimates for Taubman Centers’ earnings. The highest sales estimate is $167.23 million and the lowest is $138.44 million. Taubman Centers reported sales of $140.98 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The business is scheduled to announce its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Taubman Centers will report full year sales of $623.37 million for the current financial year, with estimates ranging from $582.34 million to $679.60 million. For the next fiscal year, analysts forecast that the company will report sales of $637.74 million, with estimates ranging from $591.86 million to $687.65 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Taubman Centers.

Taubman Centers (NYSE:TCO) last announced its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.84). The business had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $168.91 million. Taubman Centers had a net margin of 11.84% and a negative return on equity of 30.65%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share.

A number of research analysts have weighed in on TCO shares. Zacks Investment Research upgraded shares of Taubman Centers from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Mizuho set a $48.00 target price on shares of Taubman Centers and gave the company a “hold” rating in a research note on Tuesday, February 19th. BMO Capital Markets restated a “hold” rating and issued a $55.00 target price on shares of Taubman Centers in a report on Thursday, February 14th. Finally, KeyCorp set a $69.00 price target on shares of Taubman Centers and gave the stock a “buy” rating in a research note on Thursday, December 20th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.53.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blume Capital Management Inc. purchased a new position in shares of Taubman Centers in the 4th quarter valued at about $36,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of Taubman Centers in the fourth quarter valued at approximately $37,000. Pearl River Capital LLC acquired a new position in shares of Taubman Centers during the 4th quarter worth approximately $46,000. First Hawaiian Bank raised its stake in shares of Taubman Centers by 147.2% during the 4th quarter. First Hawaiian Bank now owns 1,137 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 677 shares during the period. Finally, Advisors Asset Management Inc. acquired a new position in shares of Taubman Centers during the 3rd quarter worth approximately $244,000.

Shares of NYSE TCO traded down $0.36 during trading hours on Wednesday, hitting $53.94. 3,478 shares of the company traded hands, compared to its average volume of 288,947. The company has a market cap of $3.32 billion, a P/E ratio of 14.07, a P/E/G ratio of 3.72 and a beta of 0.82. Taubman Centers has a 12 month low of $43.44 and a 12 month high of $65.50.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 5.01%. This is a positive change from Taubman Centers’s previous quarterly dividend of $0.66. The ex-dividend date was Thursday, March 14th. Taubman Centers’s payout ratio is 70.50%.

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 and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.

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