Macerich (MAC) Projected to Post Earnings on Wednesday

Macerich (NYSE:MAC) is anticipated to announce its earnings results 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. Persons interested in participating in the company’s earnings conference call can do so using this link.

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

Macerich Stock Down 0.6 %

MAC opened at $20.75 on Monday. The stock has a market capitalization of $5.16 billion, a P/E ratio of 53.21, a price-to-earnings-growth ratio of 0.71 and a beta of 2.51. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. Macerich has a one year low of $12.99 and a one year high of $22.27. The business’s 50-day simple moving average is $20.53 and its 200-day simple moving average is $18.29.

Insider Buying and Selling at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the transaction, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on MAC. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research note on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target for the company. Compass Point increased their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Mizuho raised Macerich from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. Piper Sandler boosted their target price on Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Finally, Scotiabank upgraded Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a research note on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.30.

About Macerich

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.