Zacks: Brokerages Set $25.00 Target Price for IRSA Propiedades Comerciales SA (IRCP)

Shares of IRSA Propiedades Comerciales SA (NASDAQ:IRCP) have been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Analysts have set a 1-year consensus price objective of $25.00 for the company, according to Zacks. Zacks has also given IRSA Propiedades Comerciales an industry rank of 22 out of 255 based on the ratings given to its competitors.

Several equities research analysts have issued reports on IRCP shares. Zacks Investment Research upgraded IRSA Propiedades Comerciales from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Thursday, January 24th. ValuEngine downgraded IRSA Propiedades Comerciales from a “hold” rating to a “sell” rating in a report on Monday, February 4th.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of IRSA Propiedades Comerciales in the 4th quarter valued at approximately $74,000. City of London Investment Management Co. Ltd. bought a new stake in shares of IRSA Propiedades Comerciales in the 4th quarter valued at approximately $480,000. VR Advisory Services Ltd bought a new stake in shares of IRSA Propiedades Comerciales in the 4th quarter valued at approximately $932,000. Macquarie Group Ltd. bought a new stake in shares of IRSA Propiedades Comerciales in the 4th quarter valued at approximately $1,010,000. Finally, 683 Capital Management LLC increased its holdings in shares of IRSA Propiedades Comerciales by 76.8% in the 4th quarter. 683 Capital Management LLC now owns 72,050 shares of the financial services provider’s stock valued at $1,299,000 after acquiring an additional 31,303 shares during the last quarter. Institutional investors and hedge funds own 7.97% of the company’s stock.

IRCP stock opened at $19.00 on Friday. The company has a current ratio of 3.93, a quick ratio of 3.92 and a debt-to-equity ratio of 0.46. IRSA Propiedades Comerciales has a 52-week low of $16.82 and a 52-week high of $47.05. The company has a market cap of $608.03 million, a price-to-earnings ratio of 0.91 and a beta of 0.54.

IRSA Propiedades Comerciales (NASDAQ:IRCP) last posted its quarterly earnings data on Friday, February 22nd. The financial services provider reported ($4.25) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($4.60). IRSA Propiedades Comerciales had a return on equity of 16.70% and a net margin of 140.70%. The business had revenue of $46.04 million for the quarter, compared to analysts’ expectations of $54.51 million. On average, equities analysts forecast that IRSA Propiedades Comerciales will post -1.93 EPS for the current fiscal year.

About IRSA Propiedades Comerciales

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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