Jefferies Group Cuts The Macerich Company to Hold (MAC)
Shares of The Macerich Company traded down 1.20% during mid-day trading on Friday, hitting $60.07. The Macerich Company has a 52 week low of $38.64 and a 52 week high of $62.47. The company has a market cap of $7.963 billion and a P/E ratio of 58.41.
The Macerich Company last announced its earnings results on Wednesday, May 2nd. The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.71 by $0.05. The Macerich Company’s revenue was up 13.3% compared to the same quarter last year. On average, analysts predict that The Macerich Company will post $0.76 earnings per share next quarter.
A number of other firms have also recently commented on MAC. Analysts at UBS AG (NYSE: UBS) downgraded shares of The Macerich Company from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $61.00 price target on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of The Macerich Company in a research note to investors on Tuesday, May 8th. They now have a $65.00 price target on the stock.
The Macerich Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States.