Zacks: IRSA Propiedades Comerciales SA (IRCP) Receives Average Rating of “Hold” from Analysts

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Shares of IRSA Propiedades Comerciales SA (NASDAQ:IRCP) have been given an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Analysts have set a 1-year consensus target price of $25.00 for the company and are predicting that the company will post $0.35 earnings per share for the current quarter, according to Zacks. Zacks has also given IRSA Propiedades Comerciales an industry rank of 172 out of 256 based on the ratings given to related companies.

IRCP has been the topic of several recent analyst reports. Santander downgraded IRSA Propiedades Comerciales from a “hold” rating to an “underperform” rating in a report on Thursday, December 6th. Zacks Investment Research cut shares of IRSA Propiedades Comerciales from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 24th.

A number of hedge funds have recently bought and sold shares of the stock. Senvest Management LLC raised its position in IRSA Propiedades Comerciales by 112.7% in the 3rd quarter. Senvest Management LLC now owns 354,997 shares of the financial services provider’s stock worth $8,476,000 after purchasing an additional 188,084 shares during the last quarter. Newfoundland Capital Management raised its position in IRSA Propiedades Comerciales by 1.2% in the 3rd quarter. Newfoundland Capital Management now owns 195,967 shares of the financial services provider’s stock worth $4,679,000 after purchasing an additional 2,257 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in IRSA Propiedades Comerciales by 4.2% in the 2nd quarter. Wells Fargo & Company MN now owns 301,282 shares of the financial services provider’s stock worth $9,942,000 after purchasing an additional 12,212 shares during the last quarter. Hedge funds and other institutional investors own 7.59% of the company’s stock.

Shares of IRSA Propiedades Comerciales stock traded up $1.78 during trading on Friday, reaching $20.33. The company’s stock had a trading volume of 23,601 shares, compared to its average volume of 84,138. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.16 and a current ratio of 6.17. The firm has a market capitalization of $559.20 million, a PE ratio of 0.98 and a beta of 0.29. IRSA Propiedades Comerciales has a one year low of $16.82 and a one year high of $57.23.

IRSA Propiedades Comerciales (NASDAQ:IRCP) last announced its earnings results on Wednesday, November 7th. The financial services provider reported $7.21 EPS for the quarter, topping the consensus estimate of $0.39 by $6.82. The business had revenue of $40.37 million for the quarter, compared to the consensus estimate of $47.64 million. IRSA Propiedades Comerciales had a return on equity of 58.57% and a net margin of 400.39%. Research analysts forecast that IRSA Propiedades Comerciales will post -1.98 earnings per share for the current year.

IRSA Propiedades Comerciales Company Profile

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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