Brokerages expect Macy’s Inc (NYSE:M) to post earnings per share (EPS) of $0.49 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Macy’s’ earnings. The lowest EPS estimate is $0.45 and the highest is $0.52. Macy’s reported earnings per share of $0.48 during the same quarter last year, which indicates a positive year over year growth rate of 2.1%. The firm is scheduled to announce its next earnings results on Thursday, August 9th.
On average, analysts expect that Macy’s will report full-year earnings of $3.87 per share for the current fiscal year, with EPS estimates ranging from $3.82 to $3.95. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.38 per share, with EPS estimates ranging from $2.55 to $3.70. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Macy’s.
Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, May 16th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.12. Macy’s had a net margin of 6.45% and a return on equity of 24.56%. The company had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Macy’s’s revenue for the quarter was up 3.6% on a year-over-year basis.
In other news, Chairman Jeffrey Gennette acquired 10,000 shares of Macy’s stock in a transaction that occurred on Thursday, April 12th. The stock was purchased at an average price of $29.10 per share, for a total transaction of $291,000.00. Following the completion of the transaction, the chairman now directly owns 89,303 shares in the company, valued at $2,598,717.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.36% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. Point72 Asia Hong Kong Ltd increased its holdings 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 valued at $118,000 after buying an additional 3,934 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings 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 valued at $120,000 after buying an additional 1,787 shares in the last quarter. Delpha Capital Management LLC purchased a new position in Macy’s in the fourth quarter valued at about $117,000. Focused Wealth Management Inc purchased a new position in Macy’s in the fourth quarter valued at about $136,000. Finally, Bristol John W & Co. Inc. NY purchased a new position in Macy’s in the first quarter valued at about $199,000. 88.42% of the stock is owned by institutional investors.
NYSE M traded down $1.89 during trading hours on Friday, hitting $37.43. The company had a trading volume of 7,849,802 shares, compared to its average volume of 9,052,062. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.52 and a quick ratio of 0.48. Macy’s has a 1-year low of $17.41 and a 1-year high of $41.33. The company has a market capitalization of $12.05 billion, a PE ratio of 9.93, a P/E/G ratio of 1.23 and a beta of 0.74.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be given a $0.3775 dividend. The ex-dividend date is Thursday, June 14th. This represents a $1.51 dividend on an annualized basis and a yield of 4.03%. Macy’s’s payout ratio is currently 40.05%.
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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