Macerich Co. (MAC) concluded trading on 12/07/23 at a closing price of $13.17, with 2.51 million shares of worth about $33.04 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 18.65% during that period and on Thursday the price saw a gain of about 3.13%. Currently the company’s common shares owned by public are about 215.24M shares, out of which, 213.75M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the MAC stock and their offered price forecasts bring an average price target of $11.71. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $18.00 and could fall to a lowest price of $8.00. The stock’s current price level is -12.47% below of average price target set by the analysts, while a dip to estimated low would result in loss of -64.62% for the stock. However, touching the estimated high of $18.00 would mean a gain of 26.83% for the stock.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 10 times over the past 12 months. They bought 201,531 shares in 10 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Macerich Co. (NYSE: MAC) started trading at $12.78, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 13.18, or with a gain of 3.13%. Stock saw a price change of 14.82% in past 5 days and over the past one month there was a price change of 24.60%. Year-to-date (YTD), MAC shares are showing a performance of 16.96% which increased to 6.30% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.77 but also hit the highest price of $14.51 during that period. The average intraday trading volume for Macerich Co. shares is 1.64 million. The stock is currently trading 16.79% above its 20-day simple moving average (SMA20), while that difference is up 21.26% for SMA50 and it goes to 20.03% higher than SMA200.
Macerich Co. (NYSE: MAC) currently have 215.24M outstanding shares and institutions hold larger chunk of about 92.00% of that.
The stock has a current market capitalization of $2.84B and its 3Y-monthly beta is at 2.28. It has posted earnings per share of -$0.93 in the same period. It has a debt-to-equity ratio of 1.85. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MAC, volatility over the week remained 4.37% while standing at 3.64% over the month.
Analysts are in expectations that Macerich Co. (MAC) stock would likely to be making an EPS of $AMC Entertainment Holdings, Inc in the current quarter, while forecast for next quarter EPS is $6.82 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $International Business Machines which is $Macy’s Inc at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Mastercard Incorporated in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -333.18% while it is estimated to increase by 81.64% in next year.
Analysts at 14 brokerage firms have issued recommendations for the Macerich Co. (MAC)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.36. Out of those 14 Wall Street analysts, 2 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 4 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on October 02, 2023 offering a Neutral rating for the stock and assigned a target price range of between $11 and $12 to it.
