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%.

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About Macy’s

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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Earnings History and Estimates for Macy`s (NYSE:M)

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