Macerich Co reports results for the quarter ended in December - Earnings Summary

The Macerich

07/02/2024 14:37

* Macerich Co  MAC.N  reported quarterly adjusted earnings
of 24
cents​​ per share for the quarter ended in December, higher than
the same quarter last year, when the company reported EPS of 1
cents.  The mean expectation of six analysts for the quarter was
for earnings of 8 cents per share. Wall Street expected
results to range from 5 cents to 12 cents per share.
    * Revenue rose 4.6% to $238.69 million from a year ago;
analysts
expected $224.53 million. 
    * Macerich Co's reported EPS for the quarter was 29 cents​.
    * The company reported quarterly net income of $62.18
million.
    * Macerich Co shares had risen by 7.6% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.1%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 7
"hold" and 6 "sell" or "strong sell." 
    * The average consensus recommendation for the commercial
reits
peer group is also "hold"

Wall Street's median 12-month price target for Macerich Co is
$14.50 
This summary was machine generated from LSEG data February 7 at
02:36 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.56           0.59           Beat
 Sep. 30 2023      0.44           0.42           Missed
 Jun. 30 2023      0.41           0.40           Missed
 Mar. 31 2023      0.41           0.40           Missed