Macerich Company (NYSE:MAC) is reporting third quarter financial results on Thursday 5th November 2020, before market open.
According to analysts surveyed by Thomson Reuters, MAC is expected to report 3Q20 loss of $ 0.17 per share from revenue of $ 187.44 million.
For the full year, analysts anticipate top line of $ 768.19 million, while looking forward to loss of $ 0.45 per share bottom line.
The Company Outlook
Full Year 2020 bottomline are predicted in a range of $ 3.40 ~ $ 3.50 per share
Click Here For More Historical Outlooks Of Macerich Company
Previous Quarter Performance
Macerich Company disclosed income for the second quarter of $ 0.39 per share, from the revenue of $ 178.59 million. The quarterly earnings grew 290.00 percent compared with the same quarter last year. According to street consensus, MAC was expected to report 2Q20 loss of $ 0.30 per share from revenue of $ 190.39 million. The bottom line results beat street analysts by $ 0.69 or 230.00 percent, at the same time, top line results fell short of analysts by $ 11.8 million or 6.2 percent.
Stock Performance
Shares of Macerich Company traded low $ -0.22 or -2.95 percent on Wednesday, reaching $ 7.23 with volume of 6.22 million shares. Macerich Company has traded high as $ 7.36 and has cracked $ 6.93 on the downward trend
The closing price of $ 7.23, representing a 54.89 % increase from the 52 week low of $ 4.81 and a 74.63 % decrease over the 52 week high of $ 29.36.
The company has a market capital of $ 1.08 billion and is part of the Real Estate sector and REIT – Retail industry.
Recent Analyst recommendations
- On 14th September 2020, downgraded by Morgan Stanley to Underweight from Equal-Weight rating, with $ 6.50 target price.
Conference Call
Macerich Company will be hosting a conference call at 1:00 PM eastern time on 5th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.macerich.com
Macerich, an S&P 500 company, is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the countrys most attractive, densely populated markets with significant presence in the West Coast, Arizona, Chicago, and the Metro New York to Washington, DC corridor.
