SITE Centers (SITC) Set to Announce Earnings on Wednesday

SITE Centers (NYSE:SITC) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.87 per share for the quarter.

SITE Centers (NYSE:SITC) last released its quarterly earnings results on Tuesday, July 30th. The company reported $17.76 earnings per share for the quarter, beating analysts’ consensus estimates of $3.84 by $13.92. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The company had revenue of $113.48 million for the quarter, compared to analyst estimates of $113.23 million. During the same period last year, the firm earned $4.64 earnings per share. The firm’s revenue was down 16.5% on a year-over-year basis. On average, analysts expect SITE Centers to post $3 EPS for the current fiscal year and $1 EPS for the next fiscal year.

SITE Centers Stock Down 1.7 %

SITC opened at $16.88 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 7.36 and a quick ratio of 7.36. The company’s 50-day moving average is $43.39 and its 200 day moving average is $165.71. SITE Centers has a fifty-two week low of $16.27 and a fifty-two week high of $193.32. The firm has a market capitalization of $3.54 billion, a P/E ratio of 16.55 and a beta of 1.64.

Analysts Set New Price Targets

SITC has been the topic of a number of recent analyst reports. StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley lifted their price objective on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Piper Sandler lifted their price objective on shares of SITE Centers from $256.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial lifted their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Evercore ISI raised shares of SITE Centers to a “hold” rating in a research report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, SITE Centers currently has an average rating of “Hold” and an average target price of $97.18.

About SITE Centers

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.