SITE Centers Corp. (NASDAQ:SITC) Expected to Announce Earnings of $0.28 Per Share

Equities analysts forecast that SITE Centers Corp. (NASDAQ:SITC) will report $0.28 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for SITE Centers’ earnings, with estimates ranging from $0.27 to $0.29. SITE Centers posted earnings per share of $0.33 during the same quarter last year, which would indicate a negative year over year growth rate of 15.2%. The firm is expected to issue its next earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that SITE Centers will report full year earnings of $1.21 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.25. For the next fiscal year, analysts anticipate that the business will post earnings of $1.17 per share, with EPS estimates ranging from $1.14 to $1.20. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover SITE Centers.

SITE Centers (NASDAQ:SITC) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.23). The firm had revenue of $113.50 million during the quarter, compared to analyst estimates of $113.12 million. The company’s quarterly revenue was down 44.4% compared to the same quarter last year.

Separately, Compass Point assumed coverage on SITE Centers in a research report on Thursday, August 15th. They issued a “neutral” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.00.

Large investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. lifted its position in SITE Centers by 37.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,296 shares of the company’s stock valued at $43,000 after purchasing an additional 896 shares during the last quarter. Phocas Financial Corp. bought a new stake in SITE Centers in the 2nd quarter valued at $7,244,000. Machina Capital S.A.S. bought a new stake in SITE Centers in the 2nd quarter valued at $74,000. SRS Capital Advisors Inc. bought a new stake in shares of SITE Centers in the 2nd quarter worth about $76,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of SITE Centers in the 1st quarter worth about $108,000.

Shares of SITE Centers stock traded up $0.03 during trading hours on Friday, hitting $14.20. The company’s stock had a trading volume of 21,701 shares, compared to its average volume of 1,024,790. The business has a 50 day moving average price of $13.71 and a two-hundred day moving average price of $13.46. SITE Centers has a 12-month low of $10.71 and a 12-month high of $14.48.

SITE Centers Company Profile

SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.

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Earnings History and Estimates for SITE Centers (NASDAQ:SITC)

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