Brokerages Anticipate Macy’s Inc (M) to Post $0.19 EPS
Wall Street brokerages expect that Macy’s Inc (NYSE:M) will report $0.19 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Macy’s’ earnings, with estimates ranging from $0.07 to $0.31. Macy’s posted earnings of $0.17 per share in the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The business is scheduled to announce its next earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Macy’s will report full year earnings of $3.37 per share for the current year, with EPS estimates ranging from $3.20 to $3.49. For the next financial year, analysts expect that the firm will post earnings of $2.52 per share, with EPS estimates ranging from $2.05 to $2.92. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Macy’s.
Macy’s (NYSE:M) last released 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. The firm 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 company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share.
A number of research firms have commented on M. Royal Bank Of Canada set a $21.00 target price on Macy’s and gave the stock a “hold” rating in a report on Friday. Susquehanna Bancshares Inc set a $38.00 target price on Macy’s and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Cowen and Company reissued a “hold” rating and issued a $23.00 target price on shares of Macy’s in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.18.
In other Macy’s news, Director John A. Bryant bought 9,825 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $20.32 per share, with a total value of $199,644.00. Following the completion of the purchase, the director now owns 9,825 shares in the company, valued at approximately $199,644. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its stake in shares of Macy’s by 163.1% during the second quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock valued at $10,487,000 after buying an additional 279,720 shares during the last quarter. Neuberger Berman Group LLC grew its stake 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 buying an additional 302,628 shares during the last quarter. Commonwealth Bank of Australia grew its stake in shares of Macy’s by 27.8% during the second quarter. Commonwealth Bank of Australia now owns 140,199 shares of the company’s stock valued at $3,257,000 after buying an additional 30,500 shares during the last quarter. Swiss National Bank grew its stake in shares of Macy’s by 2.4% during the second quarter. Swiss National Bank now owns 1,109,712 shares of the company’s stock valued at $25,790,000 after buying an additional 26,400 shares during the last quarter. Finally, Quinn Opportunity Partners LLC grew its stake 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 buying an additional 7,000 shares during the last quarter. 81.94% of the stock is currently owned by hedge funds and other institutional investors.
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Macy’s (M) traded up 4.85% on Friday, hitting $21.17. The stock had a trading volume of 13,356,122 shares. The firm’s 50 day moving average price is $21.26 and its 200-day moving average price is $23.41. Macy’s has a 12 month low of $19.32 and a 12 month high of $45.41. The stock has a market cap of $6.45 billion, a PE ratio of 9.62 and a beta of 0.87.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.13%. Macy’s’s dividend 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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