Taubman Centers (TCO) Forecasted to Earn FY2018 Earnings of $3.76 Per Share

Taubman Centers (NYSE:TCO) – Stock analysts at Jefferies Group reduced their FY2018 EPS estimates for shares of Taubman Centers in a research report issued on Thursday, April 12th. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings of $3.76 per share for the year, down from their previous estimate of $3.77. Jefferies Group also issued estimates for Taubman Centers’ FY2019 earnings at $3.95 EPS.

How to Become a New Pot Stock Millionaire

A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Taubman Centers from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Mizuho set a $63.00 price target on shares of Taubman Centers and gave the stock a “hold” rating in a report on Friday, February 16th. Sandler O’Neill set a $63.00 price target on shares of Taubman Centers and gave the stock a “hold” rating in a report on Tuesday, February 13th. Citigroup increased 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. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Taubman Centers currently has a consensus rating of “Hold” and a consensus price target of $63.22.

Shares of NYSE:TCO opened at $57.87 on Monday. The firm has a market capitalization of $3,479.15, a PE ratio of 15.64, a P/E/G ratio of 3.40 and a beta of 0.54. Taubman Centers has a one year low of $44.78 and a one year high of $67.19. The company has a debt-to-equity ratio of -23.70, a quick ratio of 0.40 and a current ratio of 0.40.

Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.01. The firm had revenue of $172.18 million for the quarter, compared to analyst estimates of $164.26 million. Taubman Centers had a net margin of 11.63% and a negative return on equity of 57.04%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were issued a dividend of $0.655 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $2.62 annualized dividend and a dividend yield of 4.53%. This is a positive change from Taubman Centers’s previous quarterly dividend of $0.63. Taubman Centers’s dividend payout ratio (DPR) is currently 70.81%.

In related news, Director Craig M. Hatkoff sold 1,350 shares of the stock in a transaction 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 transaction, the director now owns 6,013 shares of the company’s stock, valued at approximately $352,482.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 31.20% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Taubman Centers by 162.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,531 shares of the real estate investment trust’s stock valued at $13,814,000 after buying an additional 169,730 shares during the period. Dimensional Fund Advisors LP boosted its position in Taubman Centers by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 923,894 shares of the real estate investment trust’s stock valued at $45,919,000 after buying an additional 28,282 shares during the period. AMP Capital Investors Ltd boosted its position in Taubman Centers by 228.3% during the 3rd quarter. AMP Capital Investors Ltd now owns 67,728 shares of the real estate investment trust’s stock valued at $3,366,000 after buying an additional 47,100 shares during the period. Asset Management One Co. Ltd. boosted its position 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 valued at $6,615,000 after buying an additional 1,458 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Taubman Centers during the 3rd quarter valued at $368,000.

WARNING: “Taubman Centers (TCO) Forecasted to Earn FY2018 Earnings of $3.76 Per Share” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/04/18/taubman-centers-tco-forecasted-to-earn-fy2018-earnings-of-3-76-per-share.html.

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.

Earnings History and Estimates for Taubman Centers (NYSE:TCO)

Receive News & Ratings for Taubman Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply