Brokerages expect Macy’s Inc (NYSE:M) to report $8.51 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Macy’s’ earnings, with estimates ranging from $8.42 billion to $8.58 billion. Macy’s posted sales of $8.52 billion during the same quarter last year, which would indicate a negative year over year growth rate of 0.1%. The company is scheduled to issue its next quarterly earnings report on Tuesday, February 20th.
On average, analysts expect that Macy’s will report full-year sales of $8.51 billion for the current fiscal year, with estimates ranging from $24.57 billion to $24.75 billion. For the next year, analysts expect that the firm will post sales of $23.57 billion per share, with estimates ranging from $23.21 billion to $23.75 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Macy’s.
Macy’s (NYSE:M) last posted its earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.31 billion. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 earnings per share.
Several research firms have recently commented on M. Vetr downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $28.05 target price for the company. in a research report on Tuesday. Guggenheim reissued a “buy” rating and set a $27.00 target price on shares of Macy’s in a research report on Friday, December 15th. OTR Global raised shares of Macy’s to a “sell” rating in a research report on Monday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Macy’s in a research report on Thursday, September 14th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Macy’s in a research report on Monday, September 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $25.50.
Shares of Macy’s (NYSE M) opened at $25.25 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. The company has a market cap of $7,873.04, a PE ratio of 8.70, a PEG ratio of 0.90 and a beta of 0.97. Macy’s has a 52-week low of $17.41 and a 52-week high of $38.16.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s payout ratio is 66.52%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in M. Municipal Employees Retirement System of Michigan boosted its stake in Macy’s by 60.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 15,960 shares of the company’s stock valued at $371,000 after acquiring an additional 6,030 shares during the last quarter. Sei Investments Co. boosted its stake in Macy’s by 29.8% in the second quarter. Sei Investments Co. now owns 16,047 shares of the company’s stock valued at $373,000 after acquiring an additional 3,682 shares during the last quarter. Global X Management Co. LLC boosted its stake in Macy’s by 31.9% in the second quarter. Global X Management Co. LLC now owns 11,958 shares of the company’s stock valued at $278,000 after acquiring an additional 2,891 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Macy’s by 7.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,677,501 shares of the company’s stock valued at $38,986,000 after acquiring an additional 116,607 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in Macy’s by 33.7% in the second quarter. State of Wisconsin Investment Board now owns 268,703 shares of the company’s stock valued at $6,245,000 after acquiring an additional 67,730 shares during the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.
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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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