The closing price of Tanger Inc. (NYSE: SKT) was $28.06 for the day, down -0.39% from the previous closing price of $28.17. In other words, the price has decreased by -$0.11 from its previous closing price. On the day, 894814 shares were traded.
Ratios:
Our analysis of SKT’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 139.18 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 12.91. In the meantime, Its Debt-to-Equity ratio is 2.72 whereas as Long-Term Debt/Eq ratio is at 2.72.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Citigroup on March 22, 2024, Upgraded its rating to Buy and sets its target price to $33 from $30 previously.
On December 18, 2023, JP Morgan Upgraded its rating to Overweight which previously was Neutral and also upped its target price recommendation from $27 to $29.
Compass Point Downgraded its Buy to Neutral on November 08, 2023, while the target price for the stock was maintained at $26.
Insider Transactions:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Mar 12 ’24 when Guerrieri Thomas Joseph JR sold 3,000 shares for $29.27 per share. The transaction valued at 87,810 led to the insider holds 63,782 shares of the business.
REDDIN THOMAS sold 5,000 shares of SKT for $145,000 on Feb 21 ’24. The Director now owns 46,602 shares after completing the transaction at $29.00 per share. On Dec 04 ’23, another insider, TANGER STEVEN B, who serves as the Executive Chair of the Board of the company, sold 150,000 shares for $26.25 each. As a result, the insider received 3,937,500 and left with 901,983 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, SKT now has a Market Capitalization of 3.07B and an Enterprise Value of 4.57B. As of this moment, Tanger’s Price-to-Earnings (P/E) ratio for their current fiscal year is 30.47, and their Forward P/E ratio for the next fiscal year is 31.62. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.55. For the stock, the TTM Price-to-Sale (P/S) ratio is 6.58 while its Price-to-Book (P/B) ratio in mrq is 5.39. Its current Enterprise Value per Revenue stands at 9.84 whereas that against EBITDA is 17.54.
Stock Price History:
Over the past 52 weeks, SKT has reached a high of $29.98, while it has fallen to a 52-week low of $18.00. The 50-Day Moving Average of the stock is 28.26, while the 200-Day Moving Average is calculated to be 25.21.
Shares Statistics:
SKT traded an average of 779.88K shares per day over the past three months and 656.85k shares per day over the past ten days. A total of 108.79M shares are outstanding, with a floating share count of 105.93M. Insiders hold about 2.74% of the company’s shares, while institutions hold 86.68% stake in the company. Shares short for SKT as of Mar 15, 2024 were 4.17M with a Short Ratio of 5.34, compared to 3.97M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 3.83% and a Short% of Float of 5.70%.
Dividends & Splits
With its trailing 12-month dividend rate of 1.01, SKT has a forward annual dividend rate of 1.01. Against a Trailing Annual Dividend Yield of 3.59%, it implies a Forward Annual Dividend Yield of 3.69%. The stock’s 5-year Average Dividend Yield is 7.58. The current Payout Ratio is 105.48% for SKT, which recently paid a dividend on Feb 15, 2024 with an ex-dividend date of Jan 30, 2024. Stock splits for the company last occurred on Jan 25, 2011 when the company split stock in a 2:1 ratio.
Earnings Estimates
The firm’s stock currently is rated by 3 analysts. On average, analysts expect EPS of $0.19 for the current quarter, with a high estimate of $0.21 and a low estimate of $0.17, while EPS last year was $0.22. The consensus estimate for the next quarter is $0.19, with high estimates of $0.21 and low estimates of $0.16.
Analysts are recommending an EPS of between $0.83 and $0.66 for the fiscal current year, implying an average EPS of $0.77. EPS for the following year is $0.87, with 3 analysts recommending between $0.95 and $0.74.
Revenue Estimates
It is expected that $90B in revenue will be generated in the current quarter, according to 3 analysts. It ranges from a high estimate of $127.84M to a low estimate of $115M. As of the current estimate, Tanger Inc.’s year-ago sales were $108.94M, an estimated increase of 12.70% from the year-ago figure. For the next quarter, 3 analysts are estimating revenue of $122.87M, an increase of 11.10% less than the figure of $12.70% in the same quarter last year. There is a high estimate of $128.26M for the next quarter, whereas the lowest estimate is $116M.
A total of 4 analysts have provided revenue estimates for SKT’s current fiscal year. The highest revenue estimate was $514.75M, while the lowest revenue estimate was $473M, resulting in an average revenue estimate of $496.74M. In the same quarter a year ago, actual revenue was $464.41M, up 7.00% from the average estimate. Based on 4 analysts’ estimates, the company’s revenue will be $514.55M in the next fiscal year. The high estimate is $531.76M and the low estimate is $495M. The average revenue growth estimate for next year is up 3.60% from the average revenue estimate for this year.
