Zacks: Analysts Anticipate Mack-Cali Realty Corporation (CLI) to Post $0.54 EPS

Analysts expect Mack-Cali Realty Corporation (NYSE:CLI) to post $0.54 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Mack-Cali Realty’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.53. Mack-Cali Realty posted earnings per share of $0.17 during the same quarter last year, which would indicate a positive year-over-year growth rate of 217.6%. The company is scheduled to announce its next earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that Mack-Cali Realty will report full-year earnings of $2.27 per share for the current fiscal year, with EPS estimates ranging from $2.26 to $2.27. For the next financial year, analysts forecast that the firm will report earnings of $2.18 per share, with EPS estimates ranging from $1.89 to $2.35. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Mack-Cali Realty.

Mack-Cali Realty (NYSE:CLI) last posted its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). Mack-Cali Realty had a net margin of 4.14% and a return on equity of 1.53%. The company had revenue of $160.02 million during the quarter, compared to analyst estimates of $156.18 million. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis.

Several analysts recently weighed in on CLI shares. Evercore ISI reiterated an “outperform” rating and issued a $29.00 target price (down previously from $33.00) on shares of Mack-Cali Realty in a report on Wednesday, August 9th. Barclays dropped their target price on shares of Mack-Cali Realty from $28.00 to $24.00 and set an “underweight” rating for the company in a report on Friday, August 18th. ValuEngine downgraded shares of Mack-Cali Realty from a “buy” rating to a “hold” rating in a report on Friday, September 1st. SunTrust Banks raised shares of Mack-Cali Realty from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Mack-Cali Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.43.

Mack-Cali Realty (NYSE CLI) traded down $0.06 during trading on Thursday, reaching $21.78. 339,000 shares of the company traded hands, compared to its average volume of 567,904. Mack-Cali Realty has a 12-month low of $21.18 and a 12-month high of $29.70. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market cap of $1,963.72, a P/E ratio of 9.54, a PEG ratio of 1.78 and a beta of 1.19.

Several institutional investors have recently added to or reduced their stakes in CLI. Bank of New York Mellon Corp lifted its position in Mack-Cali Realty by 53.4% in the third quarter. Bank of New York Mellon Corp now owns 5,548,255 shares of the real estate investment trust’s stock valued at $131,549,000 after acquiring an additional 1,932,241 shares during the last quarter. Balyasny Asset Management LLC lifted its position in Mack-Cali Realty by 95.5% in the second quarter. Balyasny Asset Management LLC now owns 673,960 shares of the real estate investment trust’s stock valued at $18,291,000 after acquiring an additional 329,201 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Mack-Cali Realty in the second quarter valued at $8,404,000. Renaissance Technologies LLC lifted its position in Mack-Cali Realty by 22.4% in the second quarter. Renaissance Technologies LLC now owns 1,682,201 shares of the real estate investment trust’s stock valued at $45,655,000 after acquiring an additional 307,701 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Mack-Cali Realty by 128.8% in the second quarter. Russell Investments Group Ltd. now owns 543,201 shares of the real estate investment trust’s stock valued at $14,748,000 after purchasing an additional 305,832 shares during the period. 99.21% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This piece was reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3080018/zacks-analysts-anticipate-mack-cali-realty-corporation-cli-to-post-0-54-eps.html.

About Mack-Cali Realty

Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company owns and operates a real estate portfolio of Class A office and office/flex properties. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.

Get a free copy of the Zacks research report on Mack-Cali Realty (CLI)

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

Earnings History and Estimates for Mack-Cali Realty (NYSE:CLI)

Receive News & Ratings for Mack-Cali Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mack-Cali Realty Corporation 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+.