Taubman Centers (NYSE:TCO) updated its FY18 earnings guidance on Monday. The company provided earnings per share guidance of $3.76-3.84 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.72. Taubman Centers also updated its FY 2018 guidance to $3.76-3.84 EPS.
A number of research firms recently commented on TCO. ValuEngine lowered Taubman Centers from a hold rating to a sell rating in a research report on Friday. BMO Capital Markets reaffirmed a hold rating and set a $62.00 target price on shares of Taubman Centers in a research report on Monday, October 29th. Sandler O’Neill raised Taubman Centers from a hold rating to a buy rating and raised their target price for the company from $58.00 to $64.00 in a research report on Monday, October 22nd. Scotiabank assumed coverage on Taubman Centers in a research note on Tuesday, October 16th. They set an underperform rating for the company. Finally, Evercore ISI downgraded Taubman Centers from an in-line rating to an underperform rating and set a $63.00 price target for the company. in a research note on Monday, September 10th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $62.31.
Shares of TCO traded up $1.13 during trading hours on Monday, reaching $54.49. 575,800 shares of the company’s stock traded hands, compared to its average volume of 643,227. The company has a market cap of $3.26 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 3.66 and a beta of 0.64. Taubman Centers has a 12 month low of $46.11 and a 12 month high of $66.61.
Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.52). The firm had revenue of $159.12 million for the quarter, compared to analysts’ expectations of $159.68 million. Taubman Centers had a net margin of 14.42% and a negative return on equity of 45.76%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share. On average, equities research analysts expect that Taubman Centers will post 3.8 EPS for the current year.
In other news, Director Jonathan Litt acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average cost of $55.21 per share, with a total value of $55,210.00. Following the acquisition, the director now owns 2,653 shares in the company, valued at approximately $146,472.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 31.20% of the company’s stock.
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. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.
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