$150.02 Million in Sales Expected for Taubman Centers, Inc. (TCO) This Quarter

Wall Street brokerages forecast that Taubman Centers, Inc. (NYSE:TCO) will post $150.02 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Taubman Centers’ earnings, with estimates ranging from $143.40 million to $164.24 million. Taubman Centers reported sales of $148.02 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.4%. The company is expected to issue its next earnings report on Tuesday, November 7th.

On average, analysts expect that Taubman Centers will report full-year sales of $150.02 million for the current financial year, with estimates ranging from $568.83 million to $639.22 million. For the next year, analysts expect that the firm will report sales of $628.63 million per share, with estimates ranging from $587.41 million to $668.69 million. Zacks’ sales averages are an average based on a survey of research firms that follow Taubman Centers.

Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. Taubman Centers had a net margin of 14.71% and a negative return on equity of 110.46%. The business had revenue of $154.68 million for the quarter, compared to analysts’ expectations of $142.16 million. During the same period in the previous year, the company posted $1.04 EPS. Taubman Centers’s revenue was down 2.6% on a year-over-year basis.

A number of research firms have weighed in on TCO. BidaskClub raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research raised shares of Taubman Centers from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Deutsche Bank AG boosted their target price on shares of Taubman Centers from $68.00 to $71.00 and gave the stock a “hold” rating in a report on Monday, May 22nd. Morgan Stanley reissued an “equal weight” rating and set a $56.00 target price (down from $71.00) on shares of Taubman Centers in a report on Saturday, June 3rd. Finally, Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Taubman Centers has a consensus rating of “Hold” and an average price target of $75.00.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Ticker Report and is the property of of Ticker Report. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.tickerreport.com/banking-finance/2799973/150-02-million-in-sales-expected-for-taubman-centers-inc-tco-this-quarter.html.

Taubman Centers (NYSE:TCO) opened at 56.33 on Thursday. The stock has a market capitalization of $3.42 billion, a PE ratio of 43.53 and a beta of 0.49. The stock’s 50 day moving average is $58.91 and its 200 day moving average is $63.39. Taubman Centers has a 12-month low of $55.00 and a 12-month high of $80.86.

Several hedge funds and other institutional investors have recently modified their holdings of TCO. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Taubman Centers by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,334 shares of the real estate investment trust’s stock worth $616,000 after buying an additional 53 shares during the period. World Asset Management Inc increased its position in shares of Taubman Centers by 1.4% in the second quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 69 shares during the period. State of Wisconsin Investment Board increased its position in shares of Taubman Centers by 0.7% in the second quarter. State of Wisconsin Investment Board now owns 11,748 shares of the real estate investment trust’s stock worth $700,000 after buying an additional 80 shares during the period. Utah Retirement Systems increased its position in shares of Taubman Centers by 0.7% in the second quarter. Utah Retirement Systems now owns 15,104 shares of the real estate investment trust’s stock worth $900,000 after buying an additional 101 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Taubman Centers by 1.7% in the first quarter. Stifel Financial Corp now owns 7,174 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 98.73% of the company’s stock.

Taubman Centers Company Profile

Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.

Get a free copy of the Zacks research report on Taubman Centers (TCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.