Wall Street analysts expect that Macy’s Inc (NYSE:M) will post $5.63 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Macy’s’ earnings. The highest sales estimate is $5.76 billion and the lowest is $5.56 billion. Macy’s posted sales of $5.57 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.1%. The business is expected to report its next quarterly earnings results on Wednesday, August 21st.
On average, analysts expect that Macy’s will report full year sales of $25.11 billion for the current year, with estimates ranging from $24.75 billion to $25.76 billion. For the next financial year, analysts anticipate that the firm will post sales of $25.05 billion, with estimates ranging from $24.31 billion to $25.83 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Macy’s.
Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ 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%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS.
M has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Desjardins reiterated an “average” rating and set a $5.25 price objective on shares of Macy’s in a report on Friday, March 22nd. Standpoint Research upgraded shares of GAP from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Deutsche Bank raised their price target on shares of Macy’s from $27.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, May 16th. Finally, UBS Group set a $25.00 price target on shares of Macy’s and gave the company a “hold” rating in a report on Friday, May 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.58.
In other news, Chairman Jeffrey Gennette acquired 5,000 shares of the stock in a transaction on Friday, May 17th. The stock was bought at an average price of $21.96 per share, with a total value of $109,800.00. Following the completion of the transaction, the chairman now directly owns 102,525 shares of the company’s stock, valued at $2,251,449. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paula A. Price sold 1,189 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were 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. Insiders acquired 20,000 shares of company stock valued at $432,950 in the last ninety days. 0.55% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of M. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Macy’s by 179.4% during the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,673 shares of the company’s stock valued at $556,000 after acquiring an additional 11,990 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Macy’s by 17.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 50,514 shares of the company’s stock valued at $1,504,000 after acquiring an additional 7,561 shares during the period. State of Tennessee Treasury Department lifted its stake in shares of Macy’s by 7.7% during the 4th quarter. State of Tennessee Treasury Department now owns 112,640 shares of the company’s stock valued at $3,355,000 after buying an additional 8,071 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Macy’s during the 4th quarter valued at $1,033,000. Finally, Northern Trust Corp lifted its stake in shares of Macy’s by 11.2% during the 4th quarter. Northern Trust Corp now owns 5,053,780 shares of the company’s stock valued at $150,502,000 after buying an additional 507,877 shares in the last quarter. 87.23% of the stock is owned by institutional investors.
Shares of M stock traded up $0.51 during trading hours on Friday, hitting $21.91. 7,458,528 shares of the company were exchanged, compared to its average volume of 7,494,441. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 5.24, a PEG ratio of 0.92 and a beta of 0.54. Macy’s has a 1 year low of $20.02 and a 1 year high of $41.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.32 and a current ratio of 1.42. The business’s fifty day moving average price is $21.34.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend was Thursday, June 13th. Macy’s’s dividend payout ratio (DPR) is 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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