Macy’s Inc Expected to Post FY2018 Earnings of $3.27 Per Share (M)
Macy’s Inc (NYSE:M) – Research analysts at Northcoast Research issued their FY2018 EPS estimates for shares of Macy’s in a report issued on Thursday. Northcoast Research analyst K. Szafraniec forecasts that the company will earn $3.27 per share for the year. Northcoast Research also issued estimates for Macy’s’ Q4 2018 earnings at $2.42 EPS.
M has been the topic of several other reports. Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 price target on the stock in a research report on Wednesday, August 2nd. BMO Capital Markets set a $36.00 price target on Macy’s and gave the stock a “buy” rating in a research report on Friday, August 11th. Cowen and Company reaffirmed a “market perform” rating and issued a $23.00 price target (down from $26.00) on shares of Macy’s in a research report on Friday, August 11th. BidaskClub downgraded Macy’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Finally, ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Macy’s has an average rating of “Hold” and an average price target of $26.92.
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Shares of Macy’s (NYSE M) opened at 20.20 on Monday. The firm has a 50-day moving average of $21.36 and a 200 day moving average of $23.66. Macy’s has a 12 month low of $19.32 and a 12 month high of $45.41. The firm has a market cap of $6.15 billion, a P/E ratio of 9.18 and a beta of 0.87.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the company earned $0.51 earnings per share. Macy’s’s revenue for the quarter was down 5.4% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ffcm LLC increased its holdings in shares of Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after acquiring an additional 3,615 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Macy’s by 51.1% in the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock worth $129,000 after acquiring an additional 1,880 shares in the last quarter. Financial Architects Inc increased its holdings in shares of Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after acquiring an additional 4,200 shares in the last quarter. Edge Wealth Management LLC bought a new stake in shares of Macy’s in the second quarter worth about $142,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Macy’s by 12.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,731 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.
In related news, Director John A. Bryant acquired 9,825 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the acquisition, the director now owns 9,825 shares of the company’s stock, valued at approximately $199,644. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a $0.3775 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a yield of 7.48%. Macy’s’s dividend payout ratio is presently 68.64%.
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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