Taubman Centers, Inc. (TCO) Receives $66.13 Average Price Target from Brokerages
Shares of Taubman Centers, Inc. (NYSE:TCO) have earned an average rating of “Hold” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $66.13.
A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price objective for the company in a research note on Wednesday, December 13th. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Mizuho set a $63.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research report on Friday, February 16th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a research report on Monday, February 12th. Finally, Sandler O’Neill set a $63.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research report on Tuesday, February 13th.
In other news, CEO Robert S. Taubman sold 58,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $3,635,440.00. Following the completion of the sale, the chief executive officer now directly owns 16,953 shares of the company’s stock, valued at approximately $1,062,614.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cornelia Connelly Marakovits bought 4,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of $63.35 per share, with a total value of $253,400.00. Following the completion of the transaction, the director now owns 7,403 shares in the company, valued at approximately $468,980.05. The disclosure for this purchase can be found here. Insiders have sold a total of 94,668 shares of company stock valued at $5,929,034 in the last three months. 31.20% of the stock is currently owned by corporate insiders.
Shares of Taubman Centers (NYSE:TCO) traded up $0.68 during trading on Wednesday, hitting $59.87. 570,876 shares of the stock were exchanged, compared to its average volume of 881,667. Taubman Centers has a 12 month low of $44.78 and a 12 month high of $69.90. The stock has a market cap of $3,630.00, a PE ratio of 65.79, a price-to-earnings-growth ratio of 3.49 and a beta of 0.55. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of -23.70.
Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.01. Taubman Centers had a net margin of 11.63% and a negative return on equity of 57.04%. The company had revenue of $172.18 million during the quarter, compared to analysts’ expectations of $164.26 million. During the same quarter in the prior year, the company earned $1.01 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. analysts predict that Taubman Centers will post 3.79 earnings per share for the current year.
Taubman Centers Company Profile
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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