FY2018 EPS Estimates for Macy's Inc (M) Increased by Analyst

Macy's Inc (NYSE:M) – Research analysts at Jefferies Group raised their FY2018 earnings estimates for Macy's in a report released on Thursday. Jefferies Group analyst R. Konik now anticipates that the company will post earnings of $3.53 per share for the year, up from their previous forecast of $3.30. Jefferies Group also issued estimates for Macy's’ Q4 2018 earnings at $2.60 EPS.

M has been the topic of a number of other research reports. Vetr downgraded Macy's from a “strong-buy” rating to a “buy” rating and set a $27.26 price objective on the stock. in a research note on Monday, December 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $9.50 target price on shares of Macy's in a research report on Thursday, November 16th. BMO Capital Markets set a $35.00 target price on Macy's and gave the stock a “buy” rating in a research report on Sunday, November 12th. Susquehanna Bancshares set a $38.00 target price on Macy's and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, ValuEngine raised Macy's from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Macy's presently has a consensus rating of “Hold” and a consensus price target of $25.91.

Shares of Macy's (NYSE:M) traded down $0.69 during mid-day trading on Monday, reaching $23.79. The company’s stock had a trading volume of 5,942,560 shares, compared to its average volume of 20,895,076. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. Macy's has a one year low of $17.41 and a one year high of $34.37. The firm has a market cap of $7,250.00, a price-to-earnings ratio of 10.48, a PEG ratio of 0.79 and a beta of 0.97.

Macy's (NYSE:M) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the previous year, the firm posted $0.17 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently bought and sold shares of M. Kistler Tiffany Companies LLC acquired a new position in Macy's in the 3rd quarter valued at approximately $148,000. IFP Advisors Inc raised its holdings in Macy's by 62.9% in the 3rd quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock valued at $174,000 after acquiring an additional 3,083 shares in the last quarter. IFM Investors Pty Ltd acquired a new position in Macy's in the 3rd quarter valued at approximately $200,000. Westside Investment Management Inc. raised its holdings in Macy's by 3,191.7% in the 2nd quarter. Westside Investment Management Inc. now owns 9,875 shares of the company’s stock valued at $208,000 after acquiring an additional 9,575 shares in the last quarter. Finally, ING Groep NV acquired a new position in Macy's in the 3rd quarter valued at approximately $212,000. 82.04% of the stock is owned by institutional investors and hedge funds.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 6.35%. Macy's’s dividend payout ratio (DPR) is presently 66.52%.

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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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