Jefferies Group Cuts The Macerich Company to Hold (MAC)

By admin | 6 years ago

The Macerich Company (NYSE: MAC) was downgraded by investment analysts at Jefferies Group (NYSE: JEF) from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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.

About the author