Macy's Inc (NYSE:M) – Investment analysts at Northcoast Research increased their FY2019 earnings per share (EPS) estimates for shares of Macy's in a report issued on Thursday, according to Zacks Investment Research. Northcoast Research analyst K. Szafraniec now expects that the company will post earnings per share of $3.10 for the year, up from their previous forecast of $2.75.
Other research analysts also recently issued reports about the stock. Guggenheim restated a “buy” rating and set a $27.00 target price on shares of Macy's in a research report on Friday, December 15th. Vetr downgraded shares of Macy's from a “strong-buy” rating to a “buy” rating and set a $27.26 target price on the stock. in a research report on Monday, December 4th. Canaccord Genuity restated a “buy” rating and set a $9.50 target price on shares of Macy's in a research report on Thursday, November 16th. Zacks Investment Research upgraded shares of Macy's from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, January 10th. Finally, BMO Capital Markets set a $38.00 price target on Macy's and gave the company a “buy” rating in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.60.
Macy's (NYSE M) traded down $0.60 during trading on Monday, reaching $29.22. 9,137,517 shares of the company’s stock were exchanged, compared to its average volume of 11,616,507. The company has a current ratio of 1.47, a quick ratio of 0.45 and a debt-to-equity ratio of 1.04. Macy's has a 52 week low of $17.41 and a 52 week high of $31.04. The firm has a market cap of $8,766.05, a P/E ratio of 5.80, a PEG ratio of 0.93 and a beta of 0.79.
Macy's (NYSE:M) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.11. Macy's had a net margin of 6.23% and a return on equity of 24.93%. The business had revenue of $8.67 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the company earned $2.02 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in Macy's during the 4th quarter worth approximately $104,000. Delpha Capital Management LLC bought a new stake in Macy's during the 4th quarter worth approximately $117,000. SeaCrest Wealth Management LLC bought a new stake in Macy's during the 4th quarter worth approximately $119,000. Cerebellum GP LLC bought a new stake in Macy's during the 4th quarter worth approximately $127,000. Finally, Enterprise Financial Services Corp increased its stake in Macy's by 102.4% during the 4th quarter. Enterprise Financial Services Corp now owns 5,348 shares of the company’s stock worth $135,000 after purchasing an additional 2,706 shares in the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Felicia Williams sold 10,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $29.42, for a total transaction of $294,200.00. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $294,200. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Deirdre P. Connelly sold 9,092 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $29.25, for a total value of $265,941.00. Following the sale, the director now directly owns 16,184 shares of the company’s stock, valued at $473,382. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,607 shares of company stock valued at $3,150,407. 1.40% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 5.17%. Macy's’s dividend payout ratio (DPR) is presently 29.96%.
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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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