Macerich Co. [NYSE: MAC] gained 4.11% or 0.69 points to close at $17.47 with a heavy trading volume of 3952245 shares. The company report on February 7, 2024 at 7:05 AM that Macerich Reports Fourth Quarter 2023 Results.
As previously announced, management will hold a conference call at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) today, Wednesday, February 7, 2024, to discuss quarterly results. Participants who wish to join the conference by telephone must register at the dial-in registration link below to receive the dial-in number and a personalized PIN code that will be required to access the call. Participants may join the live webcast by accessing it at the webcast registration link below or in the Investors Section of the company’s website at https://investing.macerich.com/.
The daily chart for MAC points out that the company has recorded 48.68% gains over the past six months.
If we look at the average trading volume of 2.06M shares, MAC reached to a volume of 3952245 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Macerich Co. [MAC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MAC shares is $14.71 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 3.57. 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.
Piper Sandler have made an estimate for Macerich Co. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 02, 2023.
The Average True Range (ATR) for Macerich Co. is set at 0.63, with the Price to Sales ratio for MAC stock in the period of the last 12 months amounting to 4.27. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 0.88. Price to Free Cash Flow for MAC in the course of the last twelve months was 9.40.
Trading performance analysis for MAC stock
Macerich Co. [MAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.98. With this latest performance, MAC shares gained by 13.74% in over the last four-week period, additionally plugging by 48.68% over the last 6 months – not to mention a rise of 36.41% 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 66.44, with the RSI for the last a single of trading hit 68.54, and the three-weeks RSI is set at 65.45 for Macerich Co. [MAC]. The present Moving Average for the last 50 days of trading for this stock 15.59, while it was recorded at 17.01 for the last single week of trading, and 12.24 for the last 200 days.
Macerich Co. [MAC]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Macerich Co. posted -0.27/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -285.70%. 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 Macerich Co. go to 0.21%.
An analysis of Institutional ownership at Macerich Co. [MAC]
The top three institutional holders of MAC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MAC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MAC stock with ownership which is approximately 5.8325%.
