Macerich (MAC) Expected to Announce Quarterly Earnings on Wednesday

Macerich (NYSE:MAC) is anticipated to issue its quarterly earnings data before the market opens on Wednesday, February 5th. Analysts expect the company to announce earnings of $0.05 per share and revenue of $228.82 million for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Macerich (NYSE:MAC) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $208.54 million. During the same period last year, the company earned $0.44 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts expect Macerich to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Macerich Trading Down 2.0 %

Shares of Macerich stock opened at $20.37 on Tuesday. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 52.22, a PEG ratio of 0.72 and a beta of 2.51. Macerich has a 12-month low of $12.99 and a 12-month high of $22.27. The company has a fifty day simple moving average of $20.54 and a 200-day simple moving average of $18.32. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MAC. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. Piper Sandler lifted their target price on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. Compass Point boosted their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley upgraded Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target for the company in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.30.

Insider Buying and Selling at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

Macerich Company Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.