Brokerages Expect Macy’s Inc (M) to Post $2.45 Earnings Per Share

Brokerages expect Macy’s Inc (NYSE:M) to report earnings of $2.45 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Macy’s’ earnings, with estimates ranging from $2.37 to $2.52. Macy’s reported earnings per share of $2.02 during the same quarter last year, which would indicate a positive year over year growth rate of 21.3%. The firm is expected to issue its next earnings results on Tuesday, February 20th.

On average, analysts expect that Macy’s will report full year earnings of $3.39 per share for the current fiscal year, with EPS estimates ranging from $3.30 to $3.47. For the next fiscal year, analysts anticipate that the business will report earnings of $2.50 per share, with EPS estimates ranging from $2.00 to $2.75. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Macy’s.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company posted $0.17 EPS. The business’s quarterly revenue was down 6.1% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Deutsche Bank lifted their price target on Macy’s from $24.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, August 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Macy’s in a report on Thursday, September 14th. Royal Bank Of Canada reiterated a “hold” rating and set a $23.00 price target on shares of Macy’s in a report on Monday, September 18th. Finally, Cowen reiterated a “hold” rating and set a $23.00 price target on shares of Macy’s in a report on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $25.37.

Shares of Macy’s (NYSE M) traded up $0.39 during trading on Thursday, hitting $24.19. The stock had a trading volume of 14,776,396 shares, compared to its average volume of 18,320,998. The firm has a market cap of $7,368.27, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 0.84 and a beta of 0.96. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. Macy’s has a fifty-two week low of $17.41 and a fifty-two week high of $43.79.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s payout ratio is presently 66.52%.

Several large investors have recently made changes to their positions in M. Prudential Financial Inc. boosted its stake in Macy’s by 75.3% in the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after buying an additional 2,153,110 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Macy’s in the 3rd quarter valued at $46,431,000. Discovery Capital Management LLC CT boosted its stake in Macy’s by 239.0% in the 2nd quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock valued at $66,729,000 after buying an additional 2,024,297 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Macy’s by 30.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,969,989 shares of the company’s stock valued at $152,091,000 after buying an additional 1,646,858 shares in the last quarter. Finally, Contrarius Investment Management Ltd boosted its stake in Macy’s by 827.4% in the 3rd quarter. Contrarius Investment Management Ltd now owns 1,575,547 shares of the company’s stock valued at $34,378,000 after buying an additional 1,405,656 shares in the last quarter. 82.20% of the stock is currently owned by institutional investors.

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About Macy’s

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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