Brokerages expect Macy’s Inc (NYSE:M) to announce earnings per share (EPS) of $0.46 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Macy’s’ earnings. The lowest EPS estimate is $0.36 and the highest is $0.52. Macy’s posted earnings per share of $0.59 in the same quarter last year, which would suggest a negative year-over-year growth rate of 22%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 21st.
According to Zacks, analysts expect that Macy’s will report full-year earnings of $3.11 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.17. For the next year, analysts forecast that the firm will post earnings of $2.94 per share, with EPS estimates ranging from $2.65 to $3.12. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Macy’s.
Macy’s (NYSE:M) last released its earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a net margin of 4.43% and a return on equity of 20.66%. Macy’s’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 earnings per share.
Several research firms have recently commented on M. Goldman Sachs Group set a €28.60 ($33.26) target price on shares of Hapag-Lloyd and gave the stock a “neutral” rating in a research report on Thursday, May 16th. UBS Group set a $25.00 target price on shares of Macy’s and gave the stock a “hold” rating in a research report on Friday, May 17th. Zacks Investment Research downgraded shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Deutsche Bank boosted their target price on shares of Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, May 16th. Finally, Standpoint Research raised shares of GAP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $26.58.
In related news, Director Francis S. Blake bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $21.63 per share, with a total value of $216,300.00. Following the transaction, the director now owns 2,200 shares in the company, valued at approximately $47,586. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paula A. Price sold 1,189 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total transaction of $25,325.70. The disclosure for this sale can be found here. In the last three months, insiders acquired 20,000 shares of company stock worth $432,950. Insiders own 0.55% of the company’s stock.
Large investors have recently bought and sold shares of the company. Horizon Investments LLC purchased a new position in Macy’s during the 1st quarter valued at about $2,288,000. Cognios Capital LLC lifted its position in Macy’s by 40.4% during the 1st quarter. Cognios Capital LLC now owns 93,052 shares of the company’s stock valued at $2,235,000 after acquiring an additional 26,792 shares during the period. QV Investors Inc. lifted its position in Macy’s by 1.2% during the 1st quarter. QV Investors Inc. now owns 621,935 shares of the company’s stock valued at $14,945,000 after acquiring an additional 7,510 shares during the period. HCR Wealth Advisors purchased a new position in Macy’s during the 1st quarter valued at about $17,350,000. Finally, Destination Wealth Management lifted its position in Macy’s by 27.1% during the 1st quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock valued at $56,000 after acquiring an additional 500 shares during the period. 87.30% of the stock is owned by hedge funds and other institutional investors.
M stock traded up $0.10 during midday trading on Friday, hitting $22.87. The stock had a trading volume of 5,135,600 shares, compared to its average volume of 9,337,548. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 5.47, a P/E/G ratio of 1.00 and a beta of 0.54. The company has a current ratio of 1.42, a quick ratio of 0.32 and a debt-to-equity ratio of 1.19. Macy’s has a 1-year low of $20.02 and a 1-year high of $41.99. The company’s fifty day moving average price is $21.65.
The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend was Thursday, June 13th. Macy’s’s dividend payout ratio (DPR) is presently 36.12%.
Macy’s Company Profile
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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