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.
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.
TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Anticipate Macy's Inc (M) Will Post Quarterly Sales of $8.72 Billion” was first reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/22/zacks-brokerages-anticipate-macys-inc-m-will-post-quarterly-sales-of-8-72-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.