Zacks: Analysts Expect The Macerich Company (NYSE:MAC) to Post $0.45 EPS

Equities research analysts expect The Macerich Company (NYSE:MACGet Rating) to announce earnings of $0.45 per share for the current quarter, according to Zacks. Two analysts have made estimates for Macerich’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.48. Macerich posted earnings per share of $0.59 during the same quarter last year, which would suggest a negative year-over-year growth rate of 23.7%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Macerich will report full-year earnings of $1.96 per share for the current financial year, with EPS estimates ranging from $1.93 to $2.00. For the next financial year, analysts anticipate that the firm will report earnings of $2.01 per share, with EPS estimates ranging from $1.93 to $2.07. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Macerich.

Macerich (NYSE:MACGet Rating) last announced its quarterly earnings results on Monday, May 9th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.63). Macerich had a net margin of 4.66% and a return on equity of 1.29%. The business had revenue of $216.10 million during the quarter, compared to the consensus estimate of $209.20 million. During the same period in the previous year, the business posted $0.45 EPS. Macerich’s revenue was up 13.5% compared to the same quarter last year.

MAC has been the topic of several recent analyst reports. Piper Sandler cut shares of Macerich from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $18.00 to $14.00 in a research report on Monday, April 18th. The Goldman Sachs Group dropped their target price on shares of Macerich from $13.50 to $12.00 and set a “sell” rating on the stock in a research report on Friday, May 20th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Macerich from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, March 31st. TheStreet cut shares of Macerich from a “c” rating to a “d+” rating in a research report on Thursday, February 10th. Finally, Morgan Stanley dropped their target price on shares of Macerich from $14.75 to $14.00 and set an “underweight” rating on the stock in a research report on Monday, March 7th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Macerich has an average rating of “Hold” and an average price target of $19.09.

In other Macerich news, President Edward C. Coppola acquired 10,000 shares of Macerich stock in a transaction that occurred on Monday, March 28th. The stock was acquired at an average cost of $14.98 per share, for a total transaction of $149,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, President Edward C. Coppola acquired 2,100 shares of Macerich stock in a transaction that occurred on Thursday, March 31st. The stock was acquired at an average price of $15.90 per share, with a total value of $33,390.00. Following the completion of the purchase, the president now directly owns 475,739 shares in the company, valued at approximately $7,564,250.10. The disclosure for this purchase can be found here. Insiders purchased a total of 22,100 shares of company stock valued at $329,390 over the last quarter. 1.94% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in MAC. Prudential Financial Inc. boosted its holdings in Macerich by 1,536.8% in the 1st quarter. Prudential Financial Inc. now owns 4,783,022 shares of the real estate investment trust’s stock valued at $74,806,000 after purchasing an additional 4,490,809 shares during the period. Epoch Investment Partners Inc. bought a new position in Macerich in the 4th quarter valued at $51,220,000. Norges Bank bought a new position in Macerich in the 4th quarter valued at $35,902,000. Morgan Stanley boosted its holdings in Macerich by 417.1% in the 2nd quarter. Morgan Stanley now owns 2,400,938 shares of the real estate investment trust’s stock valued at $43,819,000 after purchasing an additional 1,936,651 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Macerich by 2,715.9% in the 4th quarter. Bank of Montreal Can now owns 1,881,497 shares of the real estate investment trust’s stock valued at $33,002,000 after purchasing an additional 1,814,679 shares during the period. 84.57% of the stock is owned by hedge funds and other institutional investors.

NYSE MAC traded up $0.08 during trading hours on Friday, hitting $11.82. The company’s stock had a trading volume of 2,157,220 shares, compared to its average volume of 3,182,919. Macerich has a 52 week low of $10.97 and a 52 week high of $22.88. The company has a market capitalization of $2.54 billion, a PE ratio of 59.10, a price-to-earnings-growth ratio of 1.61 and a beta of 1.88. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.44. The company’s 50-day simple moving average is $13.62 and its two-hundred day simple moving average is $15.97.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, May 19th. This represents a $0.60 annualized dividend and a dividend yield of 5.08%. Macerich’s payout ratio is currently 300.00%.

About Macerich (Get Rating)

Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Earnings History and Estimates for Macerich (NYSE:MAC)

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