The Macerich Company Stock Rating Reaffirmed by Zacks (MAC)
The Macerich Company (NYSE: MAC)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Thursday, StocKRatingsNetwork.com reports. They currently have a $71.00 price target on the stock.
MAC has been the subject of a number of other recent research reports. Analysts at BMO Capital Markets initiated coverage on shares of The Macerich Company in a research note to investors on Wednesday, April 10th. They set a “market perform” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of The Macerich Company from $60.00 to $63.00 in a research note to investors on Friday, April 5th. They now have an “equal weight” rating on the stock. Finally, analysts at Bank of America upgraded shares of The Macerich Company from a “neutral” rating to a “buy” rating in a research note to investors on Monday, April 1st. They now have a $68.00 price target on the stock, up previously from $62.00.
Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The Macerich Company currently has an average rating of “Hold” and a consensus target price of $64.16.
Shares of The Macerich Company (NYSE: MAC) traded up 1.21% during mid-day trading on Thursday, hitting $68.45. The Macerich Company has a one year low of $54.32 and a one year high of $67.64. The stock’s 50-day moving average is currently $64.43. The company has a market cap of $9.402 billion and a P/E ratio of 26.91.
The Macerich Company (NYSE: MAC) last announced its earnings results on Wednesday, February 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $251.20 million for the quarter, compared to the consensus estimate of $218.47 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. The Macerich Company has set its FY13 guidance at $3.32-3.42 EPS. On average, analysts predict that The Macerich Company will post $3.38 earnings per share for the current fiscal year.
The Macerich Company is a self-administered and self-managed real estate investment trust (NYSE: MAC).
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.