Macerich Co (MAC) Expected to Announce Quarterly Sales of $234.43 Million

Wall Street analysts expect Macerich Co (NYSE:MAC) to report $234.43 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Macerich’s earnings, with the lowest sales estimate coming in at $234.22 million and the highest estimate coming in at $234.63 million. Macerich reported sales of $272.00 million during the same quarter last year, which indicates a negative year-over-year growth rate of 13.8%. The company is expected to announce its next quarterly earnings report on Monday, February 5th.

According to Zacks, analysts expect that Macerich will report full-year sales of $234.43 million for the current year, with estimates ranging from $811.42 million to $952.00 million. For the next fiscal year, analysts expect that the company will post sales of $901.44 million per share, with estimates ranging from $814.96 million to $970.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Macerich.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). Macerich had a return on equity of 3.56% and a net margin of 14.92%. The firm had revenue of $242.50 million during the quarter, compared to analyst estimates of $226.00 million. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Macerich’s quarterly revenue was down 4.3% compared to the same quarter last year.

MAC has been the topic of a number of research reports. Wells Fargo & Co raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price on the stock in a research report on Tuesday, December 19th. Evercore ISI lowered shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price target on the stock. in a report on Monday, December 11th. Boenning Scattergood set a $75.00 price target on shares of Macerich and gave the company a “buy” rating in a report on Wednesday, November 1st. Mizuho reissued a “hold” rating and issued a $60.00 price target on shares of Macerich in a report on Friday, November 10th. Finally, BMO Capital Markets set a $55.00 price target on shares of Macerich and gave the company a “hold” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Macerich presently has an average rating of “Hold” and a consensus target price of $66.85.

Institutional investors and hedge funds have recently bought and sold shares of the company. Valeo Financial Advisors LLC bought a new stake in shares of Macerich in the 3rd quarter worth about $621,000. Bluestein R H & Co. bought a new stake in shares of Macerich in the 3rd quarter worth about $632,000. TCW Group Inc. grew its holdings in shares of Macerich by 19.8% in the 3rd quarter. TCW Group Inc. now owns 286,032 shares of the real estate investment trust’s stock worth $15,723,000 after purchasing an additional 47,216 shares during the last quarter. Amica Mutual Insurance Co. bought a new stake in shares of Macerich in the 3rd quarter worth about $310,000. Finally, Third Point LLC bought a new stake in shares of Macerich in the 3rd quarter worth about $94,878,000. 97.57% of the stock is currently owned by institutional investors and hedge funds.

Macerich (NYSE MAC) opened at $63.75 on Friday. Macerich has a 52-week low of $52.12 and a 52-week high of $70.70. The stock has a market cap of $8,854.62, a price-to-earnings ratio of 60.71, a P/E/G ratio of 2.93 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.85 and a current ratio of 0.85.

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Macerich Company Profile

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

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Earnings History and Estimates for Macerich (NYSE:MAC)

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