Taubman Centers, Inc. (NYSE:TCO) – Investment analysts at Jefferies Group dropped their FY2018 earnings per share estimates for shares of Taubman Centers in a research report issued to clients and investors on Monday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings per share of $3.70 for the year, down from their previous forecast of $3.77. Jefferies Group currently has a “Neutral” rating on the stock. Jefferies Group also issued estimates for Taubman Centers’ FY2019 earnings at $3.93 EPS.
Other equities analysts have also issued reports about the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a report on Monday, July 31st. BidaskClub lowered shares of Taubman Centers from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Mizuho reissued a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Finally, Morgan Stanley lowered shares of Taubman Centers from an “equal weight” rating to an “underweight” rating in a report on Monday, September 18th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $67.14.
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Taubman Centers (TCO) traded down $0.15 during trading hours on Tuesday, hitting $55.73. 1,738,586 shares of the stock traded hands, compared to its average volume of 607,119. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market cap of $3,380.00, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 4.61 and a beta of 0.52. Taubman Centers has a 52-week low of $44.78 and a 52-week high of $76.79.
Taubman Centers (NYSE:TCO) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.06). The firm had revenue of $153.20 million for the quarter, compared to analysts’ expectations of $155.95 million. Taubman Centers had a net margin of 13.21% and a negative return on equity of 75.87%. Taubman Centers’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share.
Several institutional investors have recently added to or reduced their stakes in the company. World Asset Management Inc grew its holdings in shares of Taubman Centers by 1.4% during the second quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 69 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Taubman Centers by 0.7% during the second quarter. State of Wisconsin Investment Board now owns 11,748 shares of the real estate investment trust’s stock worth $700,000 after buying an additional 80 shares in the last quarter. Utah Retirement Systems grew its holdings in shares of Taubman Centers by 0.7% during the second quarter. Utah Retirement Systems now owns 15,104 shares of the real estate investment trust’s stock worth $900,000 after buying an additional 101 shares in the last quarter. Comerica Bank grew its holdings in shares of Taubman Centers by 0.3% during the second quarter. Comerica Bank now owns 50,343 shares of the real estate investment trust’s stock worth $3,049,000 after buying an additional 146 shares in the last quarter. Finally, GAM Holding AG grew its holdings in shares of Taubman Centers by 3.3% during the second quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 166 shares in the last quarter.
Taubman Centers Company Profile
Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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