Wall Street brokerages predict that Taubman Centers, Inc. (NYSE:TCO) will report $0.93 earnings per share for the current fiscal quarter, Zacks reports. Fifteen analysts have provided estimates for Taubman Centers’ earnings. The highest EPS estimate is $1.00 and the lowest is $0.89. Taubman Centers reported earnings per share of $0.92 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The business is expected to issue its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Taubman Centers will report full year earnings of $3.79 per share for the current fiscal year, with EPS estimates ranging from $3.69 to $3.89. For the next year, analysts anticipate that the company will report earnings of $3.91 per share, with EPS estimates ranging from $3.76 to $4.11. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow Taubman Centers.
Taubman Centers (NYSE:TCO) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 EPS for the quarter, beating the consensus estimate of $1.02 by $0.01. Taubman Centers had a net margin of 11.63% and a negative return on equity of 60.45%. The firm had revenue of $172.18 million for the quarter, compared to analyst estimates of $164.26 million. During the same period last year, the firm earned $1.01 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year.
Several equities analysts have commented on TCO shares. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Monday, October 30th. BMO Capital Markets raised shares of Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 target price on the stock in a report on Wednesday, December 13th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a report on Friday, November 3rd. Mizuho reissued a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Finally, Citigroup raised their target price on shares of Taubman Centers from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.20.
In related news, Director Craig M. Hatkoff sold 1,350 shares of Taubman Centers stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $58.62, for a total transaction of $79,137.00. Following the sale, the director now directly owns 6,013 shares of the company’s stock, valued at approximately $352,482.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cornelia Connelly Marakovits purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average cost of $63.35 per share, for a total transaction of $253,400.00. Following the completion of the acquisition, the director now directly owns 7,403 shares in the company, valued at approximately $468,980.05. The disclosure for this purchase can be found here. Insiders have sold a total of 94,668 shares of company stock worth $5,929,034 over the last ninety days. 31.20% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in TCO. Stifel Financial Corp grew its holdings in Taubman Centers by 7.0% during the 2nd quarter. Stifel Financial Corp now owns 7,674 shares of the real estate investment trust’s stock worth $457,000 after acquiring an additional 500 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Taubman Centers by 15.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the real estate investment trust’s stock worth $445,000 after acquiring an additional 900 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Taubman Centers by 1.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 131,663 shares of the real estate investment trust’s stock worth $6,615,000 after acquiring an additional 1,458 shares during the last quarter. American International Group Inc. grew its holdings in Taubman Centers by 1.2% during the 4th quarter. American International Group Inc. now owns 125,665 shares of the real estate investment trust’s stock worth $8,222,000 after acquiring an additional 1,473 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Taubman Centers by 2.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 66,833 shares of the real estate investment trust’s stock worth $3,361,000 after acquiring an additional 1,491 shares during the last quarter.
Taubman Centers (NYSE TCO) traded up $1.50 during mid-day trading on Thursday, reaching $60.63. 265,087 shares of the company’s stock traded hands, compared to its average volume of 931,229. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of -21.77. Taubman Centers has a 52-week low of $44.78 and a 52-week high of $70.85. The company has a market cap of $3,708.94, a price-to-earnings ratio of 67.63, a P/E/G ratio of 3.60 and a beta of 0.52.
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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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