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

The Macerich

31/07/2024 17:51

* Macerich Co  MAC.N  reported quarterly adjusted earnings
of
$1.16​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -7
cents.  The mean expectation of eight analysts for the quarter
was for a loss of 6 cents per share. Wall Street expected
results to range from -8 cents to 1 cents per share.
    * Revenue rose 1.5% to $215.52 million from a year ago;
analysts
expected $205.01 million. 
    * Macerich Co's reported EPS for the quarter was $1.16​.
    * The company reported quarterly net income of $252.01
million.
    * Macerich Co shares had risen by 8.4% this quarter and
gained 8.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.2%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 6
"hold" and 7 "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
$14.00 
This summary was machine generated from LSEG data July 31 at
04:51 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
 Jun. 30 2024      0.40           0.40           Met
 Dec. 31 2023      0.39           0.31           Missed
 Dec. 31 2023      0.56           0.42           Missed
 Sep. 30 2023      0.44           0.42           Missed