Macy's (M) Posts Quarterly Earnings, Beats Estimates By $0.01 EPS
Macy's (NYSE:M) posted its quarterly earnings results on Wednesday. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.59 by $0.01, American Banking News.com reports. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.46 billion.
Macy's (NYSE:M) opened at 57.84 on Wednesday. Macy's has a 52 week low of $42.18 and a 52 week high of $61.26. The stock has a 50-day moving average of $57.85 and a 200-day moving average of $54.29. The company has a market cap of $21.230 billion and a P/E ratio of 14.87. Macy's also saw unusually large options trading on Tuesday. Stock traders purchased 19,431 call options on the stock. This is an increase of approximately 750% compared to the average daily volume of 2,287 call options.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.16%.
A number of analysts have recently weighed in on M shares. Analysts at Wells Fargo & Co. upgraded shares of Macy's from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 11th. They now have a $68.00 price target on the stock. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Macy's in a research note on Tuesday, March 4th. They now have a $61.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Macy's in a research note on Wednesday, February 26th. They now have a $68.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $61.03.
Macy’s, Inc (NYSE:M) is a retail organization operating stores and Internet Websites under two brands (Macy’s and Bloomingdale’s) that sell a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico.
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