Taubman Centers (NYSE:TCO) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.34 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.52), MarketWatch Earnings reports. The company had revenue of $159.12 million during the quarter, compared to analysts’ expectations of $159.68 million. Taubman Centers had a negative return on equity of 41.96% and a net margin of 11.95%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS. Taubman Centers updated its FY 2018 guidance to $3.76-3.84 EPS and its FY18 guidance to $3.76-3.84 EPS.
Shares of TCO stock opened at $55.65 on Tuesday. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 3.71 and a beta of 0.54. Taubman Centers has a 52 week low of $44.78 and a 52 week high of $66.61.
Several analysts have commented on TCO shares. ValuEngine upgraded shares of Taubman Centers from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $63.00 price target on shares of Taubman Centers in a research note on Wednesday, September 5th. Bank of America boosted their price target on shares of Taubman Centers from $60.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, August 13th. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Finally, Evercore ISI cut shares of Taubman Centers from an “in-line” rating to an “underperform” rating and set a $63.00 price target on the stock. in a research note on Monday, September 10th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Taubman Centers has an average rating of “Hold” and a consensus target price of $62.31.
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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