$144.21 Million in Sales Expected for Taubman Centers, Inc. (NYSE:TCO) This Quarter

Analysts expect Taubman Centers, Inc. (NYSE:TCO) to report sales of $144.21 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Taubman Centers’ earnings. The highest sales estimate is $149.90 million and the lowest is $138.61 million. Taubman Centers posted sales of $149.61 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.6%. The business is expected to issue its next quarterly earnings report on Thursday, July 23rd.

According to Zacks, analysts expect that Taubman Centers will report full-year sales of $620.21 million for the current fiscal year, with estimates ranging from $575.40 million to $661.11 million. For the next year, analysts anticipate that the firm will post sales of $624.91 million, with estimates ranging from $576.21 million to $686.27 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Taubman Centers.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.55). The firm had revenue of $159.46 million for the quarter, compared to analyst estimates of $158.94 million. Taubman Centers had a net margin of 34.24% and a negative return on equity of 107.89%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share.

Several brokerages have recently issued reports on TCO. ValuEngine lowered Taubman Centers from a “hold” rating to a “sell” rating in a report on Friday, April 24th. JPMorgan Chase & Co. upgraded Taubman Centers from an “underweight” rating to a “neutral” rating in a report on Monday, February 10th. Morgan Stanley lifted their price target on Taubman Centers from $29.50 to $52.50 and gave the company an “equal weight” rating in a report on Monday, February 10th. Citigroup raised their price objective on Taubman Centers from $33.00 to $52.50 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Cfra raised Taubman Centers from a “sell” rating to a “hold” rating and raised their price objective for the company from $32.00 to $53.00 in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $50.00.

Shares of Taubman Centers stock traded up $0.51 during trading on Wednesday, hitting $40.91. 695,216 shares of the stock traded hands, compared to its average volume of 2,693,771. The stock has a market cap of $2.51 billion, a P/E ratio of 12.10 and a beta of -0.04. Taubman Centers has a twelve month low of $26.24 and a twelve month high of $53.40. The company has a fifty day moving average price of $41.69 and a two-hundred day moving average price of $38.90.

A number of hedge funds and other institutional investors have recently modified their holdings of TCO. Van ECK Associates Corp increased its position in Taubman Centers by 108.7% in the 1st quarter. Van ECK Associates Corp now owns 718 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 374 shares during the period. Marshall Wace North America L.P. bought a new position in Taubman Centers in the 1st quarter worth approximately $37,000. Meeder Asset Management Inc. bought a new position in Taubman Centers in the 1st quarter worth approximately $42,000. US Bancorp DE increased its position in Taubman Centers by 197.2% in the 4th quarter. US Bancorp DE now owns 2,018 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 1,339 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in Taubman Centers in the 1st quarter worth approximately $98,000. 99.00% of the stock is currently owned by institutional investors.

Taubman Centers Company Profile

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.

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Earnings History and Estimates for Taubman Centers (NYSE:TCO)

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