$151.77 Million in Sales Expected for Taubman Centers, Inc. (NYSE:TCO) This Quarter

Analysts expect Taubman Centers, Inc. (NYSE:TCO) to report sales of $151.77 million for the current quarter, Zacks reports. Seven analysts have made estimates for Taubman Centers’ earnings, with the highest sales estimate coming in at $160.30 million and the lowest estimate coming in at $142.43 million. Taubman Centers posted sales of $142.67 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The business is scheduled to issue its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Taubman Centers will report full-year sales of $616.27 million for the current fiscal year, with estimates ranging from $582.34 million to $649.26 million. For the next financial year, analysts anticipate that the business will post sales of $634.35 million, with estimates ranging from $591.86 million to $676.59 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Taubman Centers.

Taubman Centers (NYSE:TCO) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.73). Taubman Centers had a negative return on equity of 20.52% and a net margin of 9.68%. The business had revenue of $161.60 million for the quarter, compared to analyst estimates of $162.17 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis.

A number of analysts have commented on TCO shares. Mizuho set a $43.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research note on Friday, July 26th. ValuEngine lowered shares of Taubman Centers from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 22nd. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Deutsche Bank set a $60.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a report on Tuesday, June 11th. Finally, Citigroup set a $43.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a report on Friday, June 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $55.80.

Shares of NYSE:TCO traded up $0.42 during mid-day trading on Monday, hitting $39.67. The company had a trading volume of 377,415 shares, compared to its average volume of 578,079. The firm has a fifty day moving average price of $40.63 and a 200 day moving average price of $47.12. The company has a market capitalization of $2.47 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 2.74 and a beta of 0.71. Taubman Centers has a one year low of $38.56 and a one year high of $65.50.

In related news, Director Michael J. Embler purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $39.11 per share, with a total value of $195,550.00. Following the acquisition, the director now owns 9,301 shares of the company’s stock, valued at $363,762.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 31.00% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in TCO. Geode Capital Management LLC lifted its stake in Taubman Centers by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 755,110 shares of the real estate investment trust’s stock valued at $34,349,000 after acquiring an additional 53,984 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Taubman Centers by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the real estate investment trust’s stock valued at $867,000 after acquiring an additional 200 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Taubman Centers by 16.2% in the first quarter. Retirement Systems of Alabama now owns 192,366 shares of the real estate investment trust’s stock valued at $10,172,000 after acquiring an additional 26,793 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Taubman Centers by 28.4% in the first quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the real estate investment trust’s stock valued at $585,000 after acquiring an additional 2,450 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in Taubman Centers by 4,092.7% in the first quarter. Duff & Phelps Investment Management Co. now owns 473,776 shares of the real estate investment trust’s stock valued at $25,053,000 after acquiring an additional 462,476 shares during the last quarter. Institutional investors and hedge funds own 99.07% of the company’s stock.

About Taubman Centers

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.

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