Macy’s (NYSE:M) Announces Earnings Results, Beats Expectations By $0.12 EPS

Macy’s (NYSE:M) released its quarterly earnings results on Tuesday. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12, Briefing.com reports. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS.

Macy’s Trading Up 0.2 %

Shares of M stock opened at $20.12 on Thursday. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10. The stock has a market cap of $5.54 billion, a P/E ratio of 670.67 and a beta of 2.16. The company has a current ratio of 1.38, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. The stock has a 50 day simple moving average of $19.50 and a 200 day simple moving average of $18.49.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, June 14th. Macy’s’s dividend payout ratio (DPR) is currently 2,300.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on M shares. StockNews.com initiated coverage on Macy’s in a research report on Saturday, May 18th. They issued a “hold” rating on the stock. The Goldman Sachs Group lifted their price target on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average price target of $17.73.

Insider Buying and Selling at Macy’s

In other Macy’s news, CEO Antony Spring sold 13,404 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $273,709.68. Following the completion of the transaction, the chief executive officer now directly owns 223,286 shares in the company, valued at $4,559,500.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Macy’s news, CEO Antony Spring sold 13,404 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $273,709.68. Following the completion of the transaction, the chief executive officer now directly owns 223,286 shares in the company, valued at $4,559,500.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Adrian V. Mitchell sold 13,279 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $260,666.77. Following the transaction, the chief financial officer now owns 120,457 shares of the company’s stock, valued at $2,364,570.91. The disclosure for this sale can be found here. Insiders sold a total of 218,424 shares of company stock worth $4,405,507 over the last three months. Corporate insiders own 2.77% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.