Macerich Company (NYSE:MAC) is one of the stocks that are grabbing investor focus today: sinking -2.56% or (-0.73 points) to $27.77 from its previous close of $28.5. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 931491 contracts so far this session. MAC shares had a relatively better volume day versus average trading capacity of 1.98 million shares, but with a 0.14 billion float and a 3.64% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MAC stock indicates that the average analyst price target is $37.36 per share. This means the stock has a potential increase of 34.53% from where the MAC share price has been trading recently which is between $28.18 and $28.73. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $26.5. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $59.
During the recent trading session for Macerich Company (NYSE:MAC), the company witnessed their stock drop by $-0.33 over a week and tumble down $-0.11 from the price 20 days ago. When compared to their established 52-week high of $51.95, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 12/11/18. The recent low of $26.87 stood for a -46.54% since 10/30/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.74 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for MAC is set at $33, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Macerich Company, the two-week RSI stands at 40.62. This figure suggests that MAC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MAC readings is similarly very revealing as it has a stochastic reading of 55.57% at this stage. This figure means that MAC share price today is being neutral.
Technical chart claims that Macerich Company (MAC) would settle between $28.76/share to $29.02/share level. However, if the stock price goes below the $28.21 mark, then the market for Macerich Company becomes much weaker. If that happens, the stock price might even plunge as low as $27.92 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.15. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BMO Capital Markets lowered their recommendation on shares of MAC from Outperform to Market Perform in their opinion released on September 26. Wells Fargo analysts have lowered their rating of Macerich Company (NYSE:MAC) stock from Outperform to Market Perform in a separate flash note issued to investors on February 08. Analysts at Mizuho lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to January 23.
MAC equity has an average rating of 2.68, with the figure leaning towards a bullish end. 16 analysts who tracked the company were contacted by Reuters. Amongst them, 13 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 2 analysts rated Macerich Company (NYSE:MAC) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MAC stock price is currently trading at 75.6X forward 12-month Consensus EPS estimates, and its P/E ratio is 50 while for the average stock in the same group, the multiple is 18.3. Macerich Company current P/B ratio of 1.5 means it is trading at a discount against its industry’s 2.9.
Macerich Company (MAC)’s current-quarter revenues are projected to climb by nearly -6.6% to hit $230560, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -7.7% from $960350 to a noteworthy $886100. At the other end of the current quarter income statement, Macerich Company is expected to see its adjusted earnings surge by roughly 137.5% to hit $0.19 per share. For the fiscal year, MAC’s earnings are projected to climb by roughly 2.4% to hit $0.43 per share.