Mack-Cali Realty Corporation (CLI) shares are trading at lower $11.99 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $16.86.
To add more color to this target, the company’s high over the last year is $23.89 and the low is $12.14. Over the last 52 weeks, CLI is down -44.77% while the S&P 500 is up 16.41%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, CLI reported a profit of $-21.18 million. Mack-Cali Realty Corporation also saw revenues decrease to $72.65 million. In addition, CLI has free cash flow of -$199.11 million as of 06-2020. The company’s EBITDA came in at $8.68 million which compares well with its peers.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CLI has a short ratio of 6.59 and outstanding shares of 90.63M.
CLI has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.75 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.13. Investors should also keep an eye on sector updates as CLI has historically followed its peers on positive news.
All told, Mack-Cali Realty Corporation CLI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CLI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Mack-Cali Realty Corporation CLI is now commanding a market cap of 1.12B and a float of 78.42M. CLI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CLI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in CLI, either long or short, and we have not been compensated for this article.