Taubman Centers, Inc. Expected to Post Q1 2020 Earnings of $0.88 Per Share (NYSE:TCO)

Share on StockTwits

Taubman Centers, Inc. (NYSE:TCO) – Piper Sandler issued their Q1 2020 earnings per share estimates for Taubman Centers in a report released on Monday, February 10th. Piper Sandler analyst A. Goldfarb expects that the real estate investment trust will post earnings of $0.88 per share for the quarter. Piper Sandler also issued estimates for Taubman Centers’ Q2 2020 earnings at $0.90 EPS, Q3 2020 earnings at $0.90 EPS, Q4 2020 earnings at $0.93 EPS, FY2020 earnings at $3.61 EPS, Q1 2021 earnings at $0.91 EPS, Q2 2021 earnings at $0.93 EPS, Q3 2021 earnings at $0.92 EPS, Q4 2021 earnings at $0.96 EPS and FY2021 earnings at $3.72 EPS.

Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.76). The firm had revenue of $176.70 million for the quarter, compared to the consensus estimate of $173.20 million. Taubman Centers had a negative return on equity of 87.50% and a net margin of 33.47%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share.

Other analysts have also recently issued reports about the company. Cfra upgraded Taubman Centers from a “sell” rating to a “hold” rating and boosted their price target for the stock from $32.00 to $53.00 in a report on Monday, February 10th. ValuEngine cut Taubman Centers from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Citigroup reduced their price target on Taubman Centers from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. KeyCorp reduced their price target on Taubman Centers from $69.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their price target on Taubman Centers from $29.50 to $52.50 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $47.21.

NYSE:TCO opened at $53.25 on Thursday. The stock has a market cap of $3.25 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 3.46 and a beta of 0.72. The stock’s 50-day moving average is $33.14 and its 200-day moving average is $36.07. Taubman Centers has a 1-year low of $26.24 and a 1-year high of $54.50.

Hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new stake in Taubman Centers in the first quarter valued at approximately $37,000. FNY Investment Advisers LLC bought a new stake in Taubman Centers in the fourth quarter valued at approximately $41,000. Quadrant Capital Group LLC boosted its holdings in Taubman Centers by 346.7% in the third quarter. Quadrant Capital Group LLC now owns 1,979 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 1,536 shares during the last quarter. US Bancorp DE boosted its holdings in Taubman Centers by 197.2% in the fourth quarter. US Bancorp DE now owns 2,018 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 1,339 shares during the last quarter. Finally, NumerixS Investment Technologies Inc boosted its holdings in Taubman Centers by 114.3% in the fourth quarter. NumerixS Investment Technologies Inc now owns 4,500 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 99.60% of the company’s stock.

About Taubman Centers

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.

See Also: Why do companies issue monthly dividends?

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

Receive News & Ratings for Taubman Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers and related companies with MarketBeat.com's FREE daily email newsletter.