Wall Street brokerages expect Macy’s, Inc. (NYSE:M) to announce sales of $8.44 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Macy’s’ earnings, with the highest sales estimate coming in at $8.52 billion and the lowest estimate coming in at $8.37 billion. Macy’s reported sales of $6.78 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 24.5%. The firm is expected to report its next earnings report on Tuesday, February 22nd.
According to Zacks, analysts expect that Macy’s will report full-year sales of $24.22 billion for the current fiscal year, with estimates ranging from $24.13 billion to $24.32 billion. For the next fiscal year, analysts forecast that the firm will report sales of $24.33 billion, with estimates ranging from $23.82 billion to $25.09 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Macy’s.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, November 18th. The company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.92. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.23 billion. Macy’s had a return on equity of 41.33% and a net margin of 3.75%. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS.
Shares of M stock traded down $0.79 during trading hours on Friday, reaching $26.05. The company’s stock had a trading volume of 12,110,888 shares, compared to its average volume of 11,346,811. The stock has a market capitalization of $7.80 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.46 and a beta of 2.01. Macy’s has a one year low of $12.00 and a one year high of $37.95. The firm’s fifty day simple moving average is $28.08 and its 200 day simple moving average is $23.75. The company has a current ratio of 1.14, a quick ratio of 0.22 and a debt-to-equity ratio of 1.10.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Wednesday, December 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, December 14th. Macy’s’s payout ratio is 22.56%.
In other Macy’s news, CFO Adrian V. Mitchell sold 2,397 shares of Macy’s stock in a transaction on Wednesday, November 24th. The stock was sold at an average price of $31.82, for a total transaction of $76,272.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.58% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Macy’s by 0.3% in the third quarter. BlackRock Inc. now owns 45,855,717 shares of the company’s stock worth $1,036,340,000 after purchasing an additional 132,924 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Macy’s by 3.4% in the second quarter. Vanguard Group Inc. now owns 33,678,805 shares of the company’s stock worth $638,550,000 after purchasing an additional 1,095,037 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Macy’s by 32.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 10,572,628 shares of the company’s stock worth $238,941,000 after purchasing an additional 2,602,984 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Macy’s by 4.0% in the third quarter. Dimensional Fund Advisors LP now owns 7,635,360 shares of the company’s stock worth $172,603,000 after purchasing an additional 292,269 shares during the last quarter. Finally, Contrarius Investment Management Ltd increased its position in Macy’s by 24.6% during the third quarter. Contrarius Investment Management Ltd now owns 6,358,755 shares of the company’s stock valued at $143,708,000 after acquiring an additional 1,255,064 shares during the last quarter. Hedge funds and other institutional investors own 93.62% of the company’s stock.
Macy’s Company Profile
Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.
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