$5.33 Billion in Sales Expected for Macy’s Inc (M) This Quarter
Analysts forecast that Macy’s Inc (NYSE:M) will announce sales of $5.33 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Macy’s’ earnings, with the highest sales estimate coming in at $5.36 billion and the lowest estimate coming in at $5.27 billion. Macy’s posted sales of $5.63 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.3%. The firm is expected to issue its next earnings report on Thursday, November 9th.
On average, analysts expect that Macy’s will report full year sales of $5.33 billion for the current financial year, with estimates ranging from $24.67 billion to $24.81 billion. For the next financial year, analysts expect that the firm will report sales of $23.75 billion per share, with estimates ranging from $23.43 billion to $23.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Macy’s.
Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 2.71% and a return on equity of 21.38%. Macy’s’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS.
Several research firms recently weighed in on M. Vetr cut shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target on the stock. in a report on Thursday, July 27th. Wedbush restated a “hold” rating on shares of Macy’s in a report on Monday, July 31st. Zacks Investment Research cut shares of Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Deutsche Bank AG boosted their price target on shares of Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, August 8th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $28.00 price target on shares of Macy’s in a report on Monday, June 19th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Macy’s has a consensus rating of “Hold” and a consensus target price of $26.92.
In other news, Director John A. Bryant bought 9,825 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $20.32 per share, with a total value of $199,644.00. Following the acquisition, the director now 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 available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in M. Ffcm LLC grew its stake in Macy’s by 251.6% in the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares in the last quarter. Penserra Capital Management LLC grew its stake in Macy’s by 51.1% in the 2nd quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock worth $129,000 after buying an additional 1,880 shares in the last quarter. Financial Architects Inc grew its stake in Macy’s by 254.5% in the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after buying an additional 4,200 shares in the last quarter. Edge Wealth Management LLC purchased a new position in Macy’s in the 2nd quarter worth approximately $142,000. Finally, Pacer Advisors Inc. grew its stake in Macy’s by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock worth $193,000 after buying an additional 200 shares in the last quarter. 81.97% of the stock is owned by institutional investors and hedge funds.
Shares of Macy’s (M) opened at 20.95 on Friday. Macy’s has a one year low of $19.32 and a one year high of $45.41. The company has a market capitalization of $6.38 billion, a PE ratio of 9.52 and a beta of 0.87. The stock has a 50 day moving average of $21.28 and a 200-day moving average of $24.07.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date of this dividend was Thursday, September 14th. Macy’s’s dividend payout ratio (DPR) is presently 68.64%.
TRADEMARK VIOLATION WARNING: “$5.33 Billion in Sales Expected for Macy’s Inc (M) This Quarter” was published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international trademark and copyright law. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/06/5-33-billion-in-sales-expected-for-macys-inc-m-this-quarter-2.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related companies with MarketBeat.com's FREE daily email newsletter.