Equities analysts predict that Taubman Centers (NYSE:TCO) will report $0.87 earnings per share for the current quarter, according to Zacks Investment Research. Fourteen analysts have made estimates for Taubman Centers’ earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.90. Taubman Centers reported earnings per share of $0.86 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.2%. The business is scheduled to announce its next earnings results on Thursday, July 26th.
On average, analysts expect that Taubman Centers will report full-year earnings of $3.76 per share for the current fiscal year, with EPS estimates ranging from $3.64 to $3.84. For the next year, analysts forecast that the firm will report earnings of $3.88 per share, with EPS estimates ranging from $3.76 to $4.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Taubman Centers.
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Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Thursday, April 26th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.63). Taubman Centers had a negative return on equity of 49.86% and a net margin of 11.63%. The business had revenue of $161.49 million during the quarter, compared to the consensus estimate of $152.82 million. During the same period in the previous year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year.
Several research firms have recently issued reports on TCO. ValuEngine cut Taubman Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. BMO Capital Markets set a $62.00 price objective on Taubman Centers and gave the company a “hold” rating in a report on Thursday, April 26th. Mizuho set a $63.00 price objective on Taubman Centers and gave the company a “hold” rating in a report on Friday, February 16th. Zacks Investment Research upgraded Taubman Centers from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Finally, Citigroup upped their price objective on Taubman Centers from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $63.22.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Taubman Centers by 2.2% in the first quarter. BlackRock Inc. now owns 6,800,155 shares of the real estate investment trust’s stock valued at $386,996,000 after buying an additional 145,001 shares during the period. Long Pond Capital LP lifted its holdings in shares of Taubman Centers by 35.9% during the fourth quarter. Long Pond Capital LP now owns 4,115,222 shares of the real estate investment trust’s stock valued at $269,259,000 after purchasing an additional 1,086,367 shares during the last quarter. Cbre Clarion Securities LLC purchased a new stake in shares of Taubman Centers during the fourth quarter valued at $176,250,000. Bank of New York Mellon Corp lifted its holdings in shares of Taubman Centers by 71.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,486,957 shares of the real estate investment trust’s stock valued at $97,291,000 after purchasing an additional 621,136 shares during the last quarter. Finally, V3 Capital Management L.P. purchased a new stake in shares of Taubman Centers during the fourth quarter valued at $84,241,000.
Taubman Centers opened at $52.31 on Friday, Marketbeat Ratings reports. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $66.61. The firm has a market capitalization of $3.16 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 3.44 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of -21.43.
Taubman Centers Company Profile
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.
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