Analysts Anticipate Macy’s Inc (M) to Post $0.19 EPS
Wall Street analysts expect Macy’s Inc (NYSE:M) to report $0.19 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Macy’s’ earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.31. Macy’s reported earnings of $0.17 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 9th.
On average, analysts expect that Macy’s will report full year earnings of $3.34 per share for the current financial year, with EPS estimates ranging from $3.20 to $3.48. For the next financial year, analysts anticipate that the company will post earnings of $2.52 per share, with EPS estimates ranging from $2.05 to $2.92. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Macy’s.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 earnings per share.
Several equities analysts recently issued reports on the company. Vetr lowered Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target on the stock. in a research report on Thursday, July 27th. ValuEngine lowered Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Wedbush restated a “hold” rating on shares of Macy’s in a research report on Monday, July 31st. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Deutsche Bank AG raised their price target on Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.63.
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Macy’s (NYSE:M) traded up 1.932% during mid-day trading on Friday, hitting $22.425. The stock had a trading volume of 6,238,097 shares. Macy’s has a 52 week low of $19.32 and a 52 week high of $45.41. The firm has a market cap of $6.83 billion, a PE ratio of 10.193 and a beta of 0.83. The company’s 50 day moving average price is $21.69 and its 200 day moving average price is $25.15. Macy’s also saw some unusual options trading on Wednesday. Investors acquired 813 put options on the company. This is an increase of 166% compared to the typical daily volume of 306 put options.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.51 annualized dividend and a dividend yield of 6.86%. Macy’s’s dividend payout ratio is presently 68.64%.
In other news, Director John A. Bryant purchased 9,825 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares of the company’s stock, valued at approximately $199,644. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cadence Capital Management LLC boosted its position in shares of Macy’s by 43.4% during the first quarter. Cadence Capital Management LLC now owns 56,820 shares of the company’s stock valued at $1,684,000 after purchasing an additional 17,186 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Macy’s by 48.4% during the second quarter. Neuberger Berman Group LLC now owns 928,351 shares of the company’s stock valued at $21,575,000 after purchasing an additional 302,628 shares in the last quarter. Quinn Opportunity Partners LLC boosted its position in shares of Macy’s by 1.2% during the second quarter. Quinn Opportunity Partners LLC now owns 599,700 shares of the company’s stock valued at $13,937,000 after purchasing an additional 7,000 shares in the last quarter. Banco Santander S.A. boosted its position in shares of Macy’s by 71.4% during the first quarter. Banco Santander S.A. now owns 60,000 shares of the company’s stock valued at $1,556,000 after purchasing an additional 25,000 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in Macy’s by 114.2% during the first quarter. OppenheimerFunds Inc. now owns 2,068,938 shares of the company’s stock valued at $61,324,000 after buying an additional 1,102,887 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.
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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