With a forward dividend & yield of 0.60 and 7.87%, The Macerich Company [NYSE:MAC] has active tape with a current price of $7.70 against an analyst price target of 10.30.
For the year, the stock is trading -70.13% and the five-day change stands at 12.22%. As a point of reference, the S&P 500 is trading 0.55% YTD.
Other data to note about the company today is the Recommendation Trend that is leaning toward The Macerich Company [MAC] as Hold.
Wait and see
Holding a Market Cap of $1.16 billion, The Macerich Company has seen a trading range over the last year of $4.56-$28.18.
For the last five days, MAC is up from its last closing price. The average shares trading hands each day is 4.61M, with average 10-day volume coming in at 3.75 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for MAC. When we apply the Elder Force Index to The Macerich Company, we are seeing an Elder Force Indicator number of 58607.76.
The company’s enterprise value has gone from $6.67B to $6.02B quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, MAC made a profit of 9.82 million. The Macerich Company also saw quarter revenue growth year over year of -3.89%. In addition, the company has operating cash flow of $174.7 million.
Looking at popular technical indicators, the company’s 5-day moving average is 7.53 compared to the 50-day moving average of 7.49. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. MAC currently holds a 9-day RSI of 63.93%, while 100-day RSI stands at 43.85%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. MAC’s 9-day MACD is 0.32 and the company’s 100-day MACD stands at -0.53.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 0.58% by insiders and 117.10% by institutions. Regarding institutional holdings, Ontario Teachers’ Pension Plan Board owns 16.43%, while the second top holder, Blackrock Inc., currently owns 13.26%.
Over the last six months, insiders have bought 5,000 with the most recent transaction from COPPOLA EDWARD C, President, with a purchase at price 5.53 per share.
Overall, the recommended rating for MAC is Hold. Currently, the company has 8 analysts watching the stock, and the average quarterly earnings estimate is -0.15. Quarterly revenue estimates are averaging 188.77M with the high estimate reaching 195.4M and the low at 179.06M.
To review, the current 1-year target estimate is sitting at 10.30, while the current price 7.70. Based on this, we expect the stock to rise considering the aforementioned fundamentals.