Q3 2018 EPS Estimates for Taubman Centers, Inc. Lowered by Analyst (TCO)

Taubman Centers, Inc. (NYSE:TCO) – Equities researchers at Boenning Scattergood reduced their Q3 2018 earnings per share estimates for shares of Taubman Centers in a note issued to investors on Monday. Boenning Scattergood analyst F. Van. Dijkum now expects that the firm will post earnings of $1.10 per share for the quarter, down from their previous forecast of $1.12.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Thursday, February 9th. The real estate investment trust reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.61. Taubman Centers had a net margin of 18.48% and a negative return on equity of 618.56%. The firm earned $166.19 million during the quarter, compared to the consensus estimate of $160.88 million. During the same period last year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis.

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Earnings History and Estimates for Taubman Centers (NYSE:TCO)

Several other equities analysts also recently commented on TCO. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Taubman Centers in a report on Wednesday, October 26th. TheStreet downgraded shares of Taubman Centers from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Oppenheimer Holdings, Inc. reiterated an “outperform” rating on shares of Taubman Centers in a report on Tuesday, December 20th. Mizuho reiterated a “buy” rating on shares of Taubman Centers in a report on Friday, December 23rd. Finally, Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $80.13.

Shares of Taubman Centers (NYSE:TCO) traded down 0.62% during trading on Wednesday, reaching $67.59. 292,329 shares of the company traded hands. The stock has a market capitalization of $4.08 billion, a PE ratio of 38.21 and a beta of 0.57. The company has a 50-day moving average of $71.61 and a 200-day moving average of $73.85. Taubman Centers has a 12 month low of $66.96 and a 12 month high of $81.68.

Several institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP increased its position in Taubman Centers by 62.5% in the third quarter. Quantbot Technologies LP now owns 2,688 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 1,034 shares during the period. Elkfork Partners LLC acquired a new position in Taubman Centers during the fourth quarter valued at approximately $205,000. Laurion Capital Management LP acquired a new position in Taubman Centers during the third quarter valued at approximately $208,000. Sumitomo Mitsui Asset Management Company LTD acquired a new position in Taubman Centers during the third quarter valued at approximately $212,000. Finally, Oakbrook Investments LLC increased its position in Taubman Centers by 3.4% in the third quarter. Oakbrook Investments LLC now owns 3,025 shares of the real estate investment trust’s stock valued at $225,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

This article was originally published by Web Breaking News and is owned by of Web Breaking News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright & trademark laws. The legal version of this article can be read at http://www.webbreakingnews.com/2017/02/17/q3-2018-eps-estimates-for-taubman-centers-inc-lowered-by-analyst-tco.html.

In related news, Director Craig M. Hatkoff sold 2,400 shares of the company’s stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $72.78, for a total value of $174,672.00. Following the transaction, the director now directly owns 4,839 shares in the company, valued at $352,182.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 31.20% of the company’s stock.

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 (TRG) is a partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.

5 Day Chart for NYSE:TCO

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