Analysts Anticipate Macy’s Inc (M) Will Announce Earnings of $0.19 Per Share
Brokerages expect Macy’s Inc (NYSE:M) to report $0.19 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Macy’s’ earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.07. Macy’s posted earnings per share of $0.17 in the same quarter last year, which indicates a positive year-over-year growth rate of 11.8%. The company is expected to issue its next earnings report on Thursday, November 9th.
On average, analysts expect that Macy’s will report full year earnings of $3.34 per share for the current fiscal year, with EPS estimates ranging from $3.20 to $3.48. For the next fiscal year, analysts forecast that the business will post earnings of $2.52 per share, with EPS estimates ranging from $2.05 to $2.92. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Macy’s.
Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the company posted $0.51 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year.
A number of research analysts recently issued reports on M shares. BidaskClub cut shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Vetr lowered shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price objective on the stock. in a research note on Thursday, July 27th. Zacks Investment Research cut shares of Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BMO Capital Markets restated an “outperform” rating on shares of Macy’s in a report on Thursday, September 14th. Finally, ValuEngine cut shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.63.
In other news, Director John A. Bryant purchased 9,825 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the purchase, the director now directly owns 9,825 shares in the company, valued at approximately $199,644. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Macy’s by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock valued at $526,000 after buying an additional 65 shares during the period. Cleararc Capital Inc. increased its holdings in Macy’s by 1.0% during the first quarter. Cleararc Capital Inc. now owns 12,795 shares of the company’s stock valued at $379,000 after buying an additional 123 shares during the last quarter. Advantus Capital Management Inc increased its holdings in Macy’s by 0.6% during the first quarter. Advantus Capital Management Inc now owns 30,420 shares of the company’s stock valued at $902,000 after buying an additional 169 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Macy’s by 3.2% during the first quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock valued at $193,000 after buying an additional 200 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Macy’s by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company’s stock valued at $439,000 after buying an additional 200 shares during the last quarter. 81.97% of the stock is currently owned by institutional investors.
Shares of Macy’s (NYSE M) opened at 21.05 on Wednesday. Macy’s has a 12-month low of $19.32 and a 12-month high of $45.41. The company has a market cap of $6.41 billion, a P/E ratio of 9.57 and a beta of 0.87. The stock’s 50 day moving average price is $21.25 and its 200 day moving average price is $24.12.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a dividend of $0.3775 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.51 annualized dividend and a dividend yield of 7.17%. Macy’s’s payout ratio is 68.64%.
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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