Wall Street analysts expect that Macy’s Inc. (NYSE:M) will announce $5.42 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Macy’s’ earnings, with the lowest sales estimate coming in at $5.34 billion and the highest estimate coming in at $5.53 billion. Macy’s posted sales of $5.34 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, May 16th.
On average, analysts expect that Macy’s will report full year sales of $24.96 billion for the current fiscal year, with estimates ranging from $24.51 billion to $25.28 billion. For the next fiscal year, analysts expect that the company will post sales of $24.58 billion per share, with estimates ranging from $24.31 billion to $24.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Macy’s.
Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Macy’s had a return on equity of 24.93% and a net margin of 6.23%. The company had revenue of $8.67 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter in the prior year, the firm earned $2.02 earnings per share. Macy’s’s revenue was up 1.8% compared to the same quarter last year.
Shares of NYSE:M opened at $29.41 on Tuesday. Macy’s has a 52-week low of $17.41 and a 52-week high of $31.04. The company has a market capitalization of $8,961.12, a P/E ratio of 7.80, a PEG ratio of 0.95 and a beta of 0.75. The company has a current ratio of 1.47, a quick ratio of 0.45 and a debt-to-equity ratio of 1.04.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were issued a dividend of $0.3775 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.51 annualized dividend and a dividend yield of 5.13%. Macy’s’s dividend payout ratio is presently 40.05%.
In related news, CFO Karen M. Hoguet sold 67,515 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $29.39, for a total value of $1,984,265.85. Following the completion of the transaction, the chief financial officer now owns 67,515 shares in the company, valued at approximately $1,984,265.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deirdre P. Connelly sold 9,092 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $29.25, for a total value of $265,941.00. Following the completion of the transaction, the director now owns 16,184 shares of the company’s stock, valued at approximately $473,382. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,392 shares of company stock valued at $3,173,164. Company insiders own 2.36% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its stake in Macy’s by 27.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the company’s stock worth $353,000 after acquiring an additional 3,055 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Macy’s by 7.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 53,586 shares of the company’s stock valued at $1,350,000 after buying an additional 3,568 shares during the last quarter. Delek Group Ltd. purchased a new position in shares of Macy’s during the 4th quarter valued at about $7,414,000. Sawtooth Solutions LLC purchased a new position in shares of Macy’s during the 4th quarter valued at about $1,064,000. Finally, Edmonds Duncan Registered Investment Advisors LLC purchased a new position in shares of Macy’s during the 4th quarter valued at about $243,000. Institutional investors own 86.94% of the company’s stock.
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Macy’s Company Profile
Macy's, Inc, together with its subsidiaries, operates stores, Websites, and mobile applications. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates stores that offer a range of women's, men's, and children's apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry.
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