Zacks: Brokerages Anticipate Macy's Inc (M) Will Post Quarterly Sales of $8.72 Billion

Wall Street analysts predict that Macy's Inc (NYSE:M) will announce sales of $8.72 billion for the current quarter, according to Zacks. Three analysts have made estimates for Macy's’ earnings, with the highest sales estimate coming in at $8.89 billion and the lowest estimate coming in at $8.60 billion. Macy's posted sales of $8.52 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.3%. The company is expected to issue its next earnings results on Tuesday, February 20th.

On average, analysts expect that Macy's will report full-year sales of $8.72 billion for the current financial year, with estimates ranging from $24.77 billion to $25.06 billion. For the next fiscal year, analysts forecast that the business will report sales of $23.68 billion per share, with estimates ranging from $23.25 billion to $24.02 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Macy's.

Macy's (NYSE:M) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Macy's had a return on equity of 21.20% and a net margin of 2.83%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS.

M has been the subject of a number of recent research reports. BMO Capital Markets reiterated a “buy” rating and issued a $36.00 target price on shares of Macy's in a report on Thursday, November 2nd. Zacks Investment Research cut Macy's from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Citigroup cut Macy's from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $21.00 to $16.00 in a report on Monday, October 30th. Guggenheim reiterated a “buy” rating and issued a $27.00 target price on shares of Macy's in a report on Friday, December 15th. Finally, Vetr upgraded Macy's from a “buy” rating to a “strong-buy” rating and set a $27.57 target price for the company in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Macy's currently has an average rating of “Hold” and a consensus target price of $26.27.

Macy's (NYSE M) opened at $27.01 on Monday. The firm has a market capitalization of $8,230.00, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.87 and a beta of 0.97. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. Macy's has a 1-year low of $17.41 and a 1-year high of $34.37.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date was Thursday, December 14th. Macy's’s dividend payout ratio (DPR) is presently 66.52%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its stake in Macy's by 163.1% during the 2nd quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock worth $10,487,000 after buying an additional 279,720 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in Macy's by 57.8% during the 3rd quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock valued at $48,944,000 after purchasing an additional 821,366 shares during the last quarter. Prudential Financial Inc. grew its stake in Macy's by 75.3% during the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after purchasing an additional 2,153,110 shares during the last quarter. Benchmark Capital Advisors purchased a new stake in shares of Macy's in the third quarter worth about $1,335,000. Finally, Empirical Finance LLC purchased a new stake in shares of Macy's in the third quarter worth about $1,221,000. 82.07% of the stock is owned by hedge funds and other institutional investors.

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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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