Taubman Centers (NYSE:TCO) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.72-3.86 for the period, compared to the Thomson Reuters consensus estimate of $3.55.

A number of research firms have recently weighed in on TCO. Zacks Investment Research cut shares of Taubman Centers from a hold rating to a sell rating in a research note on Tuesday, October 24th. BMO Capital Markets reaffirmed a hold rating and set a $62.00 price target on shares of Taubman Centers in a research note on Tuesday, January 9th. Jefferies Group reaffirmed a neutral rating on shares of Taubman Centers in a research note on Friday, October 13th. Mizuho reaffirmed a neutral rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Taubman Centers in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $65.00.

Taubman Centers (TCO) opened at $58.24 on Friday. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35. Taubman Centers has a 12 month low of $44.78 and a 12 month high of $70.85. The firm has a market cap of $3,337.38, a price-to-earnings ratio of 64.71, a PEG ratio of 4.35 and a beta of 0.52.

Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.01. The business had revenue of $172.18 million for the quarter, compared to analysts’ expectations of $164.26 million. Taubman Centers had a net margin of 11.63% and a negative return on equity of 60.45%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. research analysts predict that Taubman Centers will post 3.78 earnings per share for the current year.

In related news, COO William S. Taubman sold 35,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $2,193,800.00. Following the sale, the chief operating officer now directly owns 67,633 shares of the company’s stock, valued at approximately $4,239,236.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Cornelia Connelly Marakovits acquired 4,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average cost of $63.35 per share, for a total transaction of $253,400.00. Following the completion of the purchase, the director now owns 7,403 shares in the company, valued at approximately $468,980.05. The disclosure for this purchase can be found here. Over the last three months, insiders sold 93,318 shares of company stock worth $5,849,897. 31.20% of the stock is owned by corporate insiders.

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Taubman Centers Company Profile

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 (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.

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

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