Brokerages Anticipate Macy’s Inc (NYSE:M) Will Announce Earnings of $0.01 Per Share

Brokerages predict that Macy’s Inc (NYSE:M) will report $0.01 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Macy’s’ earnings. The highest EPS estimate is $0.10 and the lowest is ($0.07). Macy’s posted earnings per share of $0.27 in the same quarter last year, which would suggest a negative year over year growth rate of 96.3%. The business is expected to announce its next earnings report before the market opens on Thursday, November 21st.

On average, analysts expect that Macy’s will report full-year earnings of $2.82 per share for the current year, with EPS estimates ranging from $2.73 to $2.96. For the next fiscal year, analysts anticipate that the company will post earnings of $2.58 per share, with EPS estimates ranging from $2.20 to $2.90. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Macy’s.

Macy’s (NYSE:M) last announced its earnings results on Thursday, November 21st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Macy’s had a net margin of 4.11% and a return on equity of 18.74%. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year.

Several research analysts recently issued reports on the stock. Deutsche Bank cut their price target on shares of Macy’s from $29.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. reissued a “sell” rating and set a $13.00 price target on shares of Macy’s in a report on Thursday. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Wednesday, October 16th. Credit Suisse Group cut shares of Macy’s from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $19.00 to $12.00 in a report on Friday, October 18th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $18.00 target price (down from $25.00) on shares of Macy’s in a research report on Thursday, August 15th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.25.

NYSE M traded down $0.35 during trading hours on Monday, hitting $14.67. 41,708,338 shares of the stock were exchanged, compared to its average volume of 11,293,659. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 3.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.63. Macy’s has a 12-month low of $14.11 and a 12-month high of $35.06. The stock has a 50-day moving average of $15.61 and a 200 day moving average of $18.68. The company has a quick ratio of 0.34, a current ratio of 1.47 and a debt-to-equity ratio of 1.19.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.51 dividend on an annualized basis and a yield of 10.29%. This is a positive change from Macy’s’s previous quarterly dividend of $0.38. Macy’s’s dividend payout ratio (DPR) is 36.12%.

In related news, insider C Elisa D. Garcia sold 5,089 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $15.48, for a total transaction of $78,777.72. Following the sale, the insider now owns 16,825 shares in the company, valued at $260,451. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Yacktman Asset Management LP raised its stake in Macy’s by 114.9% during the third quarter. Yacktman Asset Management LP now owns 23,761,884 shares of the company’s stock worth $369,260,000 after purchasing an additional 12,705,052 shares during the period. Invesco Ltd. raised its stake in Macy’s by 62.2% during the second quarter. Invesco Ltd. now owns 5,600,515 shares of the company’s stock worth $120,187,000 after purchasing an additional 2,148,243 shares during the period. Nuveen Asset Management LLC purchased a new position in Macy’s during the second quarter worth approximately $24,810,000. Prudential Financial Inc. raised its stake in Macy’s by 27.8% during the second quarter. Prudential Financial Inc. now owns 4,474,936 shares of the company’s stock worth $96,032,000 after purchasing an additional 973,117 shares during the period. Finally, BlackRock Inc. raised its stake in Macy’s by 1.9% during the second quarter. BlackRock Inc. now owns 30,631,976 shares of the company’s stock worth $657,361,000 after purchasing an additional 558,052 shares during the period. Hedge funds and other institutional investors own 91.14% 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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