Looking To Buy The Macerich Company (MAC)? Read This First

The Macerich Company (NYSE:MAC) saw a downside of -0.97% to close Tuesday at $17.29 after subtracting -$0.17 on the day. The 5-day average trading volume is 1,957,840 shares of the company’s common stock. It has gained $18.05 in the past week. An average of 2,818,330 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,963,888.

MAC’s 1-month performance is -1.65% or $0.40 on its low of $16.50 reached on 10/06/21. The company’s shares have touched a 52-week low of $6.42 and high of $25.99, with the stock’s rally to the 52-week high happening on 01/27/21. YTD, MAC has achieved 62.04% or $6.62. However, the current price is down -33.47%% from the 52-week high price.


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Insider Transactions

On Sep 27, 16 days have gone by since the last insider trading activity for The Macerich Company (MAC). Zecchini Christopher J (Chief Accounting Officer) most recently sold 3,000 shares at $18.15 per share on Sep 27. This transaction cost the insider $54,459. Director, SOBOROFF STEVEN L, sold 20,000 shares at a price of $17.72 on Sep 22. Then, on Jul 12, Director SOBOROFF STEVEN L sold 2,103 shares at a price of $18.04 per share. This transaction amounted to $37,938.

Valuation Metrics

The Macerich Company (MAC) has a trailing price-to-earnings (P/E) ratio of 21.25 for the broader industry and 37.94 for the sector. The company’s PE ratio for the last five years has touched a high of 372.92 and a low of 7.380. MAC stock has a beta of 2.05. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.74 while the price-to-book (PB) in the most recent quarter is 1.20, with the price to cash flow ratio at 28.58.

The Macerich Company pays an annual dividend of $0.60 per share. Its dividend yield is 3.47%. MAC’s most recent quarterly dividend payment was made on Sep. 8, when it paid $0.15 a share compared with prior rate of $0.15, down 0.0% from last year’s. The company has boosted its dividend for the last 2 consecutive years with the latest dividend decrease of $0.35 reported on Friday July 24 2020. Measured over the last 3 years, the Dividend has been growing by -45.99% yearly.

It is projected that The Macerich Company’s next ex-dividend date will be on 8-Nov. MAC is expected to distribute $0.15 as its next dividend.

As well, the company’s long term debt to equity for the quarter ending June 29 was 1.70, while the total debt to equity was 1.70. In terms of profitability, the gross margin trailing 12 months is 54.40%. while for the period ending June 29; The Macerich Company’s operating margin was -19.30%. The firm’s gross profit as reported stood at $88.09 million against revenue of $786.03 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected MAC to announce -$0.13 per share in earnings in its latest quarter, but it posted -$0.06, representing a 53.80% surprise. EBITDA for the quarter stood at more than $127.07 million. MAC stock balance sheet for the quarter ending June 29 shows that, with total debt at $5.11 billion. Shareholders hold equity totaling $213.01 million

Technical Picture

Let’s look briefly at The Macerich Company (MAC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 48.58% to suggest the stock is trending Neutral, with historical volatility in this time period at 36.68%.

The stock’s 5-day moving average is $17.43, reflecting a +1.95% or $0.33 change from its current price. MAC is currently trading -0.35% above its 20-day SMA, +21.85% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +7.06% and +58.62% respectively.

Stochastic %K and %D was 47.92% and 51.10% and the average true range (ATR) pointed at 0.54. The RSI (14) points at 50.02%, while the 14-day stochastic is at 41.15% with the period’s ATR at 0.57. The stock’s 9-day MACD Oscillator is pointing at 0.16 and -0.02 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for The Macerich Company (NYSE: MAC), Jefferies upgraded it to a Hold rating. They previously had an Underperform rating on the stock. Analysts offering their rating for MAC stock have a consensus rating for the stock as Hold. Currently, 7 brokerage advisors rate MAC as a “sell,”, while 5 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 3 have offered a “buy” rating.

What is MAC’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $12.50 and a high of $35.00, with their median price target at $17.00. Looking at these predictions, the average price target given by analysts is for The Macerich Company (MAC) stock is $18.30.

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