Tanger Factory Outlet Centers Inc. (NYSE:SKT) shares traded higher over the last trading session, gaining 10.10% on 06/05/20. The shares fell to a low of $8.77 before closing at $9.70. Intraday shares traded counted 3.71 million, which was 15.28% higher than its 30-day average trading volume of 4.38M. SKT’s previous close was $8.81 while the outstanding shares total 97.41M. The firm has a beta of 1.87. The stock’s Relative Strength Index (RSI) is 75.63, with weekly volatility at 8.79% and ATR at 0.68. The SKT stock’s 52-week price range has touched low of $4.05 and a $17.94 high.
Investors have identified the REIT – Retail company Tanger Factory Outlet Centers Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $858.19 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Tanger Factory Outlet Centers Inc. (SKT) Fundamentals that are to be considered.
SKT were able to record 16.05 million as free cash flow during the third quarter of the year, this saw their quarterly net cash flow reduce by 583.78 million. In cash movements, the company had a total of 27.28 million as operating cash flow.
Potential earnings growth for Tanger Factory Outlet Centers Inc. (SKT)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the third quarter of the year, Tanger Factory Outlet Centers Inc. recorded a total of 111.63 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -10.32% coming in sequential stages and their sales for the third quarter reducing by -7.94%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 126.3 million trying to sell their products during the last quarter, with the result yielding a gross income of -14.67 million. This allows shareholders to hold on to 97.41M with the revenue now reading -0.30 cents per share. This is a figure that is close to analyst’s prediction for their fourth quarter (0.52 cents a share).
Having a look at the company’s valuation, the company is expected to record 2.27 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on SKT sounds very interesting.
Is the stock of SKT attractive?
In related news, SVP,Construction & Development, Worsham Charles Allen sold 12,500 shares of the company’s stock in a transaction that recorded on Mar 13. The sale was performed at an average price of 8.96, for a total value of 112,000. As the sale deal closes, the Senior VP, Treasurer, SUMMERELL VIRGINIA R now sold 5,830 shares of the company’s stock, valued at 73,236. Also, Director, HENRY DAVID bought 10,000 shares of the company’s stock in a deal that was recorded on Aug 21. The shares were price at an average price of 14.41 per share, with a total market value of 144,090. Following this completion of acquisition, the CEO, TANGER STEVEN B now holds 10,000 shares of the company’s stock, valued at 144,760. In the last 6 months, insiders have changed their ownership in shares of company stock by 2.70%.
0 out of 6 analysts covering the stock have rated it a Buy, while 1 have maintained a Hold recommendation on Tanger Factory Outlet Centers Inc.. 4 analysts has assigned a Sell rating on the SKT stock. The 12-month mean consensus price target for the company’s shares has been set at $4.83.
