Zacks: Brokerages Anticipate Macy's Inc (M) to Announce $2.45 Earnings Per Share

Analysts expect Macy's Inc (NYSE:M) to report $2.45 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Macy's’ earnings, with the highest EPS estimate coming in at $2.52 and the lowest estimate coming in at $2.37. Macy's posted earnings of $2.02 per share during the same quarter last year, which suggests a positive year over year growth rate of 21.3%. The firm is expected to report its next quarterly 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 year, with EPS estimates ranging from $3.30 to $3.47. For the next financial year, analysts anticipate that the firm will report earnings of $2.50 per share, with EPS estimates ranging from $2.00 to $2.75. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Macy's.

Macy's (NYSE:M) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the previous year, the company posted $0.17 EPS. The business’s revenue was down 6.1% on a year-over-year basis.

A number of research analysts have recently issued reports on M shares. Vetr downgraded Macy's from a “strong-buy” rating to a “buy” rating and set a $28.05 price objective on the stock. in a research note on Tuesday, December 19th. Telsey Advisory Group boosted their price objective on Macy's from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 28th. ValuEngine downgraded Macy's from a “buy” rating to a “hold” rating in a research note on Sunday. Guggenheim reissued a “buy” rating and issued a $27.00 price objective on shares of Macy's in a research note on Friday, December 15th. Finally, OTR Global raised Macy's to a “sell” rating in a research note on Monday, December 18th. Three equities 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 given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.75.

Shares of Macy's (NYSE M) opened at $25.33 on Thursday. Macy's has a 52-week low of $17.41 and a 52-week high of $36.40. The company has a market capitalization of $7,710.00, a PE ratio of 11.16, a price-to-earnings-growth ratio of 0.87 and a beta of 0.97. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date was Thursday, December 14th. Macy's’s dividend payout ratio (DPR) is currently 66.52%.

A number of hedge funds have recently bought and sold shares of M. Ffcm LLC raised its stake in Macy's by 251.6% during the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares during the period. Kistler Tiffany Companies LLC bought a new stake in Macy's during the 3rd quarter worth approximately $148,000. IFP Advisors Inc increased its holdings in Macy's by 62.9% during the 3rd quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock worth $174,000 after purchasing an additional 3,083 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in Macy's during the 3rd quarter worth approximately $200,000. Finally, Westside Investment Management Inc. increased its holdings in Macy's by 3,191.7% during the 2nd quarter. Westside Investment Management Inc. now owns 9,875 shares of the company’s stock worth $208,000 after purchasing an additional 9,575 shares in the last quarter. 82.04% of the stock is currently owned by institutional investors and hedge funds.

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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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