Macy’s Inc (M) Expected to Post Earnings of $0.49 Per Share

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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.

Several brokerages have recently weighed in on M. Morgan Stanley downgraded shares of Macy’s from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $29.71 to $25.00 in a research note on Thursday, May 10th. ValuEngine downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Thursday, March 1st. TheStreet upgraded shares of Macy’s from a “c+” rating to a “b-” rating in a research note on Wednesday, March 28th. Finally, Credit Suisse Group began coverage on shares of Macy’s in a research note on Monday, March 12th. They set a “neutral” rating and a $31.00 target price for the company. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Macy’s has a consensus rating of “Hold” and an average price target of $30.96.

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%.

About Macy’s

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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Earnings History and Estimates for Macy`s (NYSE:M)

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