SITE Centers Corp. (NASDAQ:SITC) Expected to Post Earnings of $0.23 Per Share

Wall Street analysts forecast that SITE Centers Corp. (NASDAQ:SITC) will report earnings per share (EPS) of $0.23 for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for SITE Centers’ earnings, with estimates ranging from $0.14 to $0.25. SITE Centers posted earnings per share of $0.31 in the same quarter last year, which indicates a negative year-over-year growth rate of 25.8%. The business is expected to report its next earnings results on Monday, August 3rd.

On average, analysts expect that SITE Centers will report full year earnings of $1.01 per share for the current fiscal year, with EPS estimates ranging from $0.86 to $1.09. For the next financial year, analysts expect that the company will report earnings of $1.02 per share, with EPS estimates ranging from $0.91 to $1.14. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for SITE Centers.

SITE Centers (NASDAQ:SITC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.09. The firm had revenue of $114.10 million during the quarter, compared to analysts’ expectations of $112.12 million. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS.

Several equities research analysts recently commented on the stock. Morgan Stanley downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $16.00 to $4.50 in a research report on Monday, April 27th. Citigroup dropped their price objective on shares of SITE Centers from $14.50 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. SunTrust Banks upped their price objective on shares of SITE Centers from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Monday, June 15th. Odeon Capital Group started coverage on shares of SITE Centers in a research note on Wednesday, April 8th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of SITE Centers from $6.00 to $6.50 and gave the company a “neutral” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $10.29.

In other SITE Centers news, Director Dawn M. Sweeney purchased 20,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were bought at an average price of $5.49 per share, for a total transaction of $109,800.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Large investors have recently bought and sold shares of the stock. First Mercantile Trust Co. acquired a new position in SITE Centers in the 1st quarter valued at $72,000. M&T Bank Corp acquired a new position in SITE Centers in the 1st quarter valued at $74,000. Fifth Third Bancorp grew its stake in SITE Centers by 15.6% in the 1st quarter. Fifth Third Bancorp now owns 16,952 shares of the company’s stock valued at $88,000 after buying an additional 2,283 shares during the last quarter. Two Sigma Securities LLC acquired a new position in SITE Centers in the 1st quarter valued at $88,000. Finally, Stratos Wealth Partners LTD. grew its stake in SITE Centers by 17.3% in the 1st quarter. Stratos Wealth Partners LTD. now owns 18,104 shares of the company’s stock valued at $94,000 after buying an additional 2,664 shares during the last quarter.

Shares of NASDAQ:SITC traded up $0.56 during mid-day trading on Wednesday, hitting $7.99. The stock had a trading volume of 309,568 shares, compared to its average volume of 2,454,707. SITE Centers has a 12-month low of $3.60 and a 12-month high of $15.85. The company’s 50 day moving average is $6.67 and its 200-day moving average is $9.41.

SITE Centers Company Profile

SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.

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Earnings History and Estimates for SITE Centers (NASDAQ:SITC)

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