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

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Shares of IRSA Propiedades Comerciales SA (NASDAQ:IRCP) have earned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Brokerages have set a 12-month consensus target price of $24.00 for the company, according to Zacks. Zacks has also assigned IRSA Propiedades Comerciales an industry rank of 88 out of 256 based on the ratings given to its competitors.

Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of IRSA Propiedades Comerciales from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine downgraded shares of IRSA Propiedades Comerciales from a “hold” rating to a “sell” rating in a research report on Monday, February 4th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in IRSA Propiedades Comerciales in the 4th quarter valued at about $74,000. Northern Trust Corp bought a new stake in IRSA Propiedades Comerciales in the 1st quarter valued at about $202,000. City of London Investment Management Co. Ltd. bought a new stake in IRSA Propiedades Comerciales in the 4th quarter valued at about $480,000. VR Advisory Services Ltd bought a new stake in IRSA Propiedades Comerciales in the 4th quarter valued at about $932,000. Finally, Macquarie Group Ltd. bought a new stake in IRSA Propiedades Comerciales in the 4th quarter valued at about $1,010,000. 5.78% of the stock is owned by institutional investors and hedge funds.

Shares of IRCP stock traded up $0.26 during trading hours on Wednesday, hitting $17.42. 1,212 shares of the company were exchanged, compared to its average volume of 14,301. The company has a market cap of $548.80 million, a price-to-earnings ratio of 0.84 and a beta of 0.47. IRSA Propiedades Comerciales has a fifty-two week low of $16.82 and a fifty-two week high of $37.29. The company has a quick ratio of 3.92, a current ratio of 3.93 and a debt-to-equity ratio of 0.46.

IRSA Propiedades Comerciales (NASDAQ:IRCP) last announced its quarterly earnings data on Friday, February 22nd. The financial services provider reported ($4.25) EPS for the quarter, missing the consensus estimate of $0.35 by ($4.60). The company had revenue of $46.04 million for the quarter, compared to analyst estimates of $54.51 million. IRSA Propiedades Comerciales had a return on equity of 14.91% and a net margin of 121.57%. Analysts anticipate that IRSA Propiedades Comerciales will post -2.14 earnings per share for the current year.

About IRSA Propiedades Comerciales

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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