Macerich (MAC) Set to Announce Quarterly Earnings on Wednesday

Macerich (NYSE:MAC) is scheduled to release its earnings data before the market opens on Wednesday, November 6th. Analysts expect Macerich to post earnings of $0.40 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Macerich Stock Up 0.3 %

Shares of NYSE:MAC opened at $18.51 on Wednesday. The firm has a fifty day moving average of $17.09 and a 200 day moving average of $15.87. Macerich has a 52-week low of $9.21 and a 52-week high of $18.94. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $4.00 billion, a PE ratio of -56.09, a price-to-earnings-growth ratio of 0.61 and a beta of 2.50.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Bank of America increased their price objective on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Evercore ISI increased their price target on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group boosted their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Piper Sandler raised their price objective on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.84.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.