Brokerages expect that Macy’s Inc (NYSE:M) will report $5.42 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Macy’s’ earnings, with the highest sales estimate coming in at $5.58 billion and the lowest estimate coming in at $5.28 billion. Macy’s posted sales of $5.28 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The firm is expected to report its next quarterly earnings report on Thursday, November 8th.
According to Zacks, analysts expect that Macy’s will report full-year sales of $0.00 for the current year. For the next financial year, analysts forecast that the company will report sales of $25.01 billion per share, with estimates ranging from $24.41 billion to $26.01 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Macy’s.
Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.20. Macy’s had a return on equity of 24.56% and a net margin of 6.45%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the firm earned $0.48 EPS. Macy’s’s revenue for the quarter was down 1.1% compared to the same quarter last year.
M has been the topic of several recent research reports. Zacks Investment Research lowered Macy’s from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Morgan Stanley lowered Macy’s from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $29.71 to $25.00 in a report on Thursday, May 10th. ValuEngine lowered Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Atlantic Securities lowered Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 price target on the stock. in a research note on Wednesday, June 6th. They noted that the move was a valuation call. Finally, Evercore ISI boosted their price target on Macy’s from $17.41 to $36.00 and gave the company a “buy” rating in a research note on Monday, June 4th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Macy’s has a consensus rating of “Hold” and an average target price of $33.61.
Shares of NYSE:M traded up $1.34 during trading on Friday, hitting $37.37. 577,803 shares of the stock were exchanged, compared to its average volume of 9,908,180. Macy’s has a 1-year low of $17.41 and a 1-year high of $41.99. The firm has a market capitalization of $12.25 billion, a PE ratio of 9.73, a PEG ratio of 1.22 and a beta of 0.79. The company has a current ratio of 1.52, a quick ratio of 0.48 and a debt-to-equity ratio of 1.01.
In other Macy’s news, Director William H. Lenehan acquired 2,092 shares of Macy’s stock in a transaction on Friday, August 17th. The shares were bought at an average price of $35.78 per share, with a total value of $74,851.76. Following the completion of the purchase, the director now owns 8,060 shares in the company, valued at $288,386.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.36% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of M. Baker Ellis Asset Management LLC acquired a new position in Macy’s in the second quarter worth $112,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Macy’s in the second quarter worth $116,000. Point72 Asia Hong Kong Ltd boosted its stake in Macy’s by 10,087.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,973 shares of the company’s stock worth $118,000 after purchasing an additional 3,934 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Macy’s by 78.4% in the first quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock worth $120,000 after purchasing an additional 1,787 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Macy’s in the second quarter worth $150,000. 88.65% of the stock is currently owned by institutional investors.
Macy’s Company Profile
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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