Brokerages Expect Taubman Centers, Inc. (NYSE:TCO) to Post $0.88 EPS
Analysts expect Taubman Centers, Inc. (NYSE:TCO) to announce earnings per share of $0.88 for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Taubman Centers’ earnings. The highest EPS estimate is $0.91 and the lowest is $0.80. Taubman Centers posted earnings of $1.01 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 12.9%. The company is expected to issue its next quarterly earnings results on Monday, November 4th.
On average, analysts expect that Taubman Centers will report full year earnings of $3.68 per share for the current financial year, with EPS estimates ranging from $3.51 to $3.73. For the next fiscal year, analysts anticipate that the business will post earnings of $3.80 per share, with EPS estimates ranging from $3.74 to $3.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Taubman Centers.
Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.73). Taubman Centers had a net margin of 9.68% and a negative return on equity of 20.52%. The company had revenue of $161.60 million during the quarter, compared to analysts’ expectations of $162.17 million. During the same period last year, the firm posted $0.92 earnings per share. Taubman Centers’s revenue was up 5.8% on a year-over-year basis.
Shares of NYSE:TCO traded down $1.30 during trading hours on Friday, reaching $42.34. The stock had a trading volume of 9,418 shares, compared to its average volume of 594,391. Taubman Centers has a 1 year low of $37.70 and a 1 year high of $62.73. The firm’s 50 day moving average is $40.12 and its 200-day moving average is $45.99. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 2.97 and a beta of 0.71.
The company also recently announced a — dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.675 dividend. This represents a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, September 13th. Taubman Centers’s dividend payout ratio (DPR) is presently 70.50%.
In other news, Director Michael J. Embler bought 5,000 shares of Taubman Centers stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $39.11 per share, for a total transaction of $195,550.00. Following the purchase, the director now owns 9,301 shares of the company’s stock, valued at $363,762.11. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 31.00% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina lifted its stake in shares of Taubman Centers by 21.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 28,734 shares of the real estate investment trust’s stock worth $1,173,000 after acquiring an additional 5,130 shares during the period. Royal Bank of Canada increased its holdings in shares of Taubman Centers by 24.0% in the 2nd quarter. Royal Bank of Canada now owns 27,422 shares of the real estate investment trust’s stock valued at $1,119,000 after purchasing an additional 5,299 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Taubman Centers by 9.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 11,300 shares of the real estate investment trust’s stock valued at $461,000 after purchasing an additional 1,000 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Taubman Centers by 13,569.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 635,234 shares of the real estate investment trust’s stock valued at $25,937,000 after purchasing an additional 630,587 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Taubman Centers by 10.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 103,218 shares of the real estate investment trust’s stock valued at $4,214,000 after purchasing an additional 9,417 shares in the last quarter. Institutional investors own 99.63% 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 and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.
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