The Macerich Company [NYSE: MAC] price surged by 2.61 percent to reach at $0.23. The company report on November 5, 2020 that Macerich Co. to Host Earnings Call.
Macerich Co. (NYSE:MAC) will be discussing their earnings results in their 2020 Third Quarter Earnings call to be held on November 5, 2020 at 1:00 PM Eastern Time.
To listen to the event live or access a replay of the call – visit https://www.investornetwork.com/event/presentation/69521.
A sum of 10820129 shares traded at recent session while its average daily volume was at 4.69M shares. The Macerich Company shares reached a high of $9.66 and dropped to a low of $8.94 until finishing in the latest session at $9.04.
The one-year MAC stock forecast points to a potential upside of 12.15. The average equity rating for MAC stock is currently 3.40, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on The Macerich Company [MAC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MAC shares is $10.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MAC stock is a recommendation set at 3.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for The Macerich Company shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on September 14, 2020. While these analysts kept the previous recommendation, Goldman raised their target price to Sell. The new note on the price target was released on July 01, 2020, representing the official price target for The Macerich Company stock.
The Average True Range (ATR) for The Macerich Company is set at 0.56, with the Price to Sales ratio for MAC stock in the period of the last 12 months amounting to 1.70. The Price to Book ratio for the last quarter was 0.55, with the Price to Cash per share for the same quarter was set at 3.37.
MAC Stock Performance Analysis:
The Macerich Company [MAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.22. With this latest performance, MAC shares gained by 24.35% in over the last four-week period, additionally plugging by 21.51% over the last 6 months – not to mention a drop of -65.68% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MAC stock in for the last two-week period is set at 66.71, with the RSI for the last a single of trading hit 70.69, and the three-weeks RSI is set at 63.26 for The Macerich Company [MAC]. The present Moving Average for the last 50 days of trading for this stock 7.45, while it was recorded at 8.81 for the last single week of trading, and 9.40 for the last 200 days.
Insight into The Macerich Company Fundamentals:
MAC Stock EPS
With the latest financial reports released by the company, The Macerich Company posted 0.18/share EPS, while the average EPS was predicted by analysts to be reported at 0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MAC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Macerich Company go to 0.21%.
The Macerich Company [MAC] Insider Position Details
There are presently around $1,148 million, or 97.70% of MAC stock, in the hands of institutional investors. The top three institutional holders of MAC stocks are: ONTARIO TEACHERS PENSION PLAN BOARD with ownership of 24,562,964, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 18,085,409 shares of the stock with an approximate value of $163.49 million in MAC stocks shares; and VANGUARD GROUP INC, currently with $147.04 million in MAC stock with ownership of nearly -17.944% of the company’s market capitalization.
120 institutional holders increased their position in The Macerich Company [NYSE:MAC] by around 8,890,173 shares. Additionally, 146 investors decreased positions by around 18,431,575 shares, while 46 investors held positions by with 99,635,560 shares. The mentioned changes placed institutional holdings at 126,957,308 shares, according to the latest SEC report filing. MAC stock had 37 new institutional investments in for a total of 1,189,777 shares, while 43 institutional investors sold positions of 1,956,117 shares during the same period.