Analysts Expect Macy’s Inc (NYSE:M) to Post $0.46 EPS

Wall Street analysts expect that Macy’s Inc (NYSE:M) will post $0.46 earnings per share 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 $0.52 and the lowest estimate coming in at $0.36. Macy’s reported earnings of $0.59 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 22%. The business is expected to report its next earnings report on Wednesday, August 21st.

According to Zacks, analysts expect that Macy’s will report full-year earnings of $3.12 per share for the current year, with EPS estimates ranging from $3.00 to $3.19. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.95 per share, with EPS estimates ranging from $2.65 to $3.13. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Macy’s.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.11. Macy’s had a net margin of 4.43% and a return on equity of 20.66%. The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis.

M has been the subject of several recent analyst reports. Desjardins reaffirmed an “average” rating and issued a $5.25 target price on shares of Macy’s in a research note on Friday, March 22nd. Standpoint Research raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Guggenheim reaffirmed a “buy” rating and issued a $30.00 target price on shares of Macy’s in a research note on Tuesday, February 26th. Zacks Investment Research raised shares of Macy’s from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $27.00 price objective on shares of Macy’s in a research report on Wednesday, February 27th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. Macy’s presently has an average rating of “Hold” and a consensus target price of $26.58.

Shares of NYSE:M opened at $21.77 on Tuesday. Macy’s has a 52 week low of $20.02 and a 52 week high of $41.99. The company has a quick ratio of 0.32, a current ratio of 1.42 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 5.21, a PEG ratio of 0.92 and a beta of 0.50.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Thursday, June 13th. Macy’s’s dividend payout ratio is 36.12%.

In other Macy’s news, President Harry A. Lawton III bought 5,000 shares of Macy’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $21.37 per share, for a total transaction of $106,850.00. Following the completion of the acquisition, the president now owns 31,038 shares of the company’s stock, valued at approximately $663,282.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francis S. Blake bought 10,000 shares of Macy’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $21.63 per share, with a total value of $216,300.00. Following the acquisition, the director now directly owns 2,200 shares of the company’s stock, valued at approximately $47,586. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 20,000 shares of company stock valued at $432,950 and have sold 16,921 shares valued at $421,238. Corporate insiders own 0.55% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in M. Securian Asset Management Inc lifted its stake in shares of Macy’s by 1.3% during the 4th quarter. Securian Asset Management Inc now owns 31,365 shares of the company’s stock worth $934,000 after buying an additional 403 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Macy’s by 3.4% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,428 shares of the company’s stock worth $347,000 after buying an additional 473 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Macy’s by 2.3% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 21,440 shares of the company’s stock worth $515,000 after buying an additional 487 shares during the last quarter. Destination Wealth Management lifted its stake in shares of Macy’s by 27.1% during the 1st quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock worth $56,000 after buying an additional 500 shares during the last quarter. Finally, Mason Street Advisors LLC lifted its stake in shares of Macy’s by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 43,868 shares of the company’s stock worth $1,054,000 after buying an additional 520 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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

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