Taubman Centers (TCO) Issues Quarterly Earnings Results
Taubman Centers (NYSE:TCO) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01, Bloomberg Earnings reports. The company had revenue of $172.18 million for the quarter, compared to the consensus estimate of $164.26 million. Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS.
Taubman Centers (NYSE TCO) traded up $3.32 on Friday, hitting $58.29. The stock had a trading volume of 1,406,610 shares, compared to its average volume of 978,651. The company has a market capitalization of $3,448.48, a PE ratio of 52.35, a PEG ratio of 4.49 and a beta of 0.52. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of -21.77. Taubman Centers has a 1-year low of $44.78 and a 1-year high of $70.85.
Several research analysts have commented on the company. Zacks Investment Research downgraded Taubman Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $62.00 price target on shares of Taubman Centers in a research report on Tuesday, January 9th. Mizuho reaffirmed a “neutral” rating on shares of Taubman Centers in a research report on Wednesday, November 8th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research report on Friday, November 3rd. Finally, Jefferies Group reaffirmed a “neutral” rating on shares of Taubman Centers in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Taubman Centers currently has an average rating of “Hold” and a consensus price target of $65.00.
About Taubman Centers
Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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