Wall Street brokerages predict that Macy’s Inc (NYSE:M) will announce earnings per share (EPS) of $2.44 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Macy’s’ earnings, with estimates ranging from $2.37 to $2.52. Macy’s reported earnings per share of $2.02 during the same quarter last year, which would suggest a positive year over year growth rate of 20.8%. The firm is scheduled to report its next quarterly earnings results on Tuesday, February 20th.
According to Zacks, analysts expect that Macy’s will report full year earnings of $3.38 per share for the current financial year, with EPS estimates ranging from $3.29 to $3.47. For the next financial year, analysts forecast that the business will report earnings of $2.50 per share, with EPS estimates ranging from $2.00 to $2.75. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Macy’s.
Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the business earned $0.17 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year.
M has been the subject of several analyst reports. Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 target price for the company in a research report on Wednesday, August 2nd. BMO Capital Markets set a $36.00 target price on Macy’s and gave the stock a “buy” rating in a research report on Friday, August 11th. Cowen and Company reaffirmed a “market perform” rating and issued a $23.00 target price (down previously from $26.00) on shares of Macy’s in a research report on Friday, August 11th. BidaskClub downgraded Macy’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Finally, ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.25.
In related news, Director John A. Bryant bought 9,825 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the acquisition, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of M. Prudential Financial Inc. grew its holdings in Macy’s by 75.3% in the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after buying an additional 2,153,110 shares in the last quarter. Alps Advisors Inc. bought a new position in Macy’s during the 3rd quarter valued at $46,431,000. Discovery Capital Management LLC CT boosted its stake in Macy’s by 239.0% during the 2nd quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock valued at $66,729,000 after purchasing an additional 2,024,297 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Macy’s by 30.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,969,989 shares of the company’s stock valued at $152,091,000 after purchasing an additional 1,646,858 shares in the last quarter. Finally, Contrarius Investment Management Ltd boosted its stake in Macy’s by 827.4% during the 3rd quarter. Contrarius Investment Management Ltd now owns 1,575,547 shares of the company’s stock valued at $34,378,000 after purchasing an additional 1,405,656 shares in the last quarter. 83.17% of the stock is owned by institutional investors and hedge funds.
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Macy’s (M) traded down $0.65 during mid-day trading on Friday, reaching $19.33. The company’s stock had a trading volume of 21,387,100 shares, compared to its average volume of 9,769,542. Macy’s has a 1 year low of $17.41 and a 1 year high of $45.41. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. The stock has a market capitalization of $6,085.91, a P/E ratio of 6.73, a PEG ratio of 0.69 and a beta of 0.86.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 7.81%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is presently 66.52%.
Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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