Macy's, Inc. (M) Announces Quarterly Dividend of $0.31
Macy's (NYSE:M) declared a quarterly dividend on Friday, August 22nd, American Banking & Market News reports. Investors of record on Monday, September 15th will be given a dividend of 0.3125 per share on Wednesday, October 1st. This represents a $1.25 dividend on an annualized basis and a yield of 2.06%.
A number of research firms have recently commented on M. Analysts at Stifel Nicolaus raised their price target on shares of Macy's from $64.00 to $70.00 in a research note on Friday. They now have a “buy” rating on the stock. On a related note, analysts at JPMorgan Chase & Co. raised their price target on shares of Macy's from $60.00 to $67.00 in a research note on Thursday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Macy's in a research note on Thursday, August 14th. They now have a $59.00 price target on the stock. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $63.79.
Macy's (NYSE:M) traded up 2.09% on Friday, hitting $61.9705. The stock had a trading volume of 3,626,631 shares. Macy's has a one year low of $42.18 and a one year high of $61.26. The stock has a 50-day moving average of $58.2 and a 200-day moving average of $57.57. The company has a market cap of $21.907 billion and a P/E ratio of 15.07.
Macy's (NYSE:M) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.80 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.86 by $0.06. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.30 billion. Analysts expect that Macy's will post $4.45 EPS for the current fiscal year.
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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