Macerich (MAC) to Release Earnings on Wednesday

Macerich (NYSE:MAC - Get Free Report) is projected to release its earnings data before the market opens on Wednesday, February 5th. Analysts expect Macerich to post earnings of $0.05 per share and revenue of $228.82 million for the quarter. Individual interested in listening to the company's earnings conference call can do so using this link.

Macerich (NYSE:MAC - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $208.54 million. During the same quarter last year, the company posted $0.44 earnings per share. 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 Stock Down 0.6 %

NYSE MAC traded down $0.12 during trading hours on Friday, reaching $20.75. 2,058,095 shares of the company traded hands, compared to its average volume of 1,564,626. The stock has a market capitalization of $5.16 billion, a PE ratio of 53.21, a PEG ratio of 0.71 and a beta of 2.51. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. Macerich has a 12 month low of $12.99 and a 12 month high of $22.27. The company has a 50 day moving average of $20.53 and a two-hundred day moving average of $18.27.

Insider Transactions at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of the company's 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 completion of the sale, the director now owns 83,479 shares of the company's stock, valued at $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MAC shares. Piper Sandler increased their price target on shares of Macerich from $14.00 to $17.00 and gave the stock an "underweight" rating in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and lifted their target price for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Morgan Stanley raised Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price target on the stock in a research report on Wednesday, January 15th. Mizuho upgraded 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 target price for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.