$0.41 EPS Expected for Mack Cali Realty Corp (NYSE:CLI) This Quarter

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Brokerages forecast that Mack Cali Realty Corp (NYSE:CLI) will report earnings of $0.41 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Mack Cali Realty’s earnings, with estimates ranging from $0.37 to $0.43. Mack Cali Realty reported earnings of $0.45 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 8.9%. The company is expected to report its next earnings results on Wednesday, February 19th.

On average, analysts expect that Mack Cali Realty will report full year earnings of $1.60 per share for the current year, with EPS estimates ranging from $1.55 to $1.62. For the next year, analysts expect that the firm will report earnings of $1.60 per share, with EPS estimates ranging from $1.44 to $1.68. Zacks’ EPS calculations are an average based on a survey of analysts that cover Mack Cali Realty.

Mack Cali Realty (NYSE:CLI) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($1.04). Mack Cali Realty had a net margin of 39.15% and a return on equity of 11.35%. The firm had revenue of $131.88 million for the quarter, compared to analyst estimates of $120.85 million. During the same quarter last year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year.

Several brokerages have recently commented on CLI. Deutsche Bank raised their target price on Mack Cali Realty from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Zacks Investment Research raised Mack Cali Realty from a “sell” rating to a “hold” rating and set a $23.00 target price on the stock in a research report on Monday, October 14th. ValuEngine downgraded Mack Cali Realty from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Evercore ISI restated a “hold” rating and issued a $24.00 price objective on shares of Mack Cali Realty in a research report on Sunday, August 11th. Finally, TheStreet cut shares of Mack Cali Realty from a “b-” rating to a “c+” rating in a research report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.55.

CLI opened at $21.39 on Friday. The firm has a market cap of $1.94 billion, a PE ratio of 13.12 and a beta of 1.05. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.76. The business has a fifty day simple moving average of $21.73 and a 200-day simple moving average of $22.29. Mack Cali Realty has a fifty-two week low of $18.74 and a fifty-two week high of $24.88.

A number of hedge funds and other institutional investors have recently made changes to their positions in CLI. Advisor Group Inc. boosted its stake in Mack Cali Realty by 33.1% in the 2nd quarter. Advisor Group Inc. now owns 1,849 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 460 shares during the period. Tower Research Capital LLC TRC acquired a new position in Mack Cali Realty in the 2nd quarter worth $51,000. Marshall Wace North America L.P. boosted its stake in Mack Cali Realty by 35.9% in the 1st quarter. Marshall Wace North America L.P. now owns 3,408 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 900 shares during the period. YorkBridge Wealth Partners LLC acquired a new position in Mack Cali Realty in the 3rd quarter worth $217,000. Finally, Stifel Financial Corp acquired a new position in Mack Cali Realty in the 3rd quarter worth $237,000. 92.11% of the stock is owned by hedge funds and other institutional investors.

About Mack Cali Realty

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.

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Earnings History and Estimates for Mack Cali Realty (NYSE:CLI)

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