Macy’s Inc (NYSE:M) issued its quarterly earnings results on Thursday. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04, Bloomberg Earnings reports. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. Macy’s had a net margin of 2.83% and a return on equity of 21.06%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. Macy’s updated its FY18 guidance to $3.38-3.63 EPS.
Shares of Macy’s (NYSE:M) opened at $19.98 on Friday. Macy’s has a 52-week low of $17.41 and a 52-week high of $45.41. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.34 and a current ratio of 1.42. The company has a market cap of $5,938.90, a P/E ratio of 6.57, a P/E/G ratio of 0.66 and a beta of 0.86.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a dividend of $0.3775 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a yield of 7.56%. Macy’s’s payout ratio is 66.52%.
In other news, Director John A. Bryant bought 9,825 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average price of $20.32 per share, with a total value of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares of the company’s stock, valued at approximately $199,644. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.
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A number of equities analysts have commented on M shares. Royal Bank Of Canada set a $23.00 target price on shares of Macy’s and gave the stock a “hold” rating in a research note on Friday, August 11th. BidaskClub upgraded shares of Macy’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. BMO Capital Markets restated a “buy” rating and issued a $36.00 target price on shares of Macy’s in a research note on Thursday, November 2nd. UBS AG restated a “neutral” rating and issued a $21.00 target price (down from $23.00) on shares of Macy’s in a research note on Monday, August 14th. Finally, ValuEngine downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.31.
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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