Macy’s Inc. (NYSE:M) issued its quarterly earnings data on Thursday. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.24. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The firm earned $5.63 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the firm posted $0.56 EPS. Macy’s’s quarterly revenue was down 4.2% compared to the same quarter last year. Macy’s updated its FY17 guidance to $3.15-3.40 EPS.

Macy’s (NYSE:M) opened at 38.38 on Thursday. The stock has a market capitalization of $11.84 billion, a P/E ratio of 15.39 and a beta of 0.77. The stock has a 50 day moving average price of $36.59 and a 200-day moving average price of $35.59. Macy’s has a 12-month low of $29.94 and a 12-month high of $45.50.

Earnings History for Macy`s (NYSE:M)

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 3.93%. Macy’s’s dividend payout ratio (DPR) is 60.64%.

A number of equities research analysts have weighed in on M shares. Vetr upgraded Macy’s from a “hold” rating to a “buy” rating and set a $38.48 price objective for the company in a research note on Monday, September 12th. RBC Capital Markets reiterated a “sector perform” rating and issued a $40.00 price objective (up previously from $35.00) on shares of Macy’s in a research note on Saturday, August 13th. Deutsche Bank AG upgraded Macy’s from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $45.00 in a research note on Monday, October 31st. Guggenheim started coverage on Macy’s in a research note on Friday, September 30th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Telsey Advisory Group boosted their price objective on Macy’s from $36.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $43.42.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Macy’s by 14.8% in the second quarter. BlackRock Inc. now owns 657,574 shares of the company’s stock worth $22,101,000 after buying an additional 84,928 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Macy’s by 1.8% in the second quarter. BlackRock Fund Advisors now owns 4,858,055 shares of the company’s stock worth $163,279,000 after buying an additional 86,167 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Macy’s by 3.5% in the second quarter. BlackRock Group LTD now owns 2,807,558 shares of the company’s stock worth $94,362,000 after buying an additional 96,197 shares during the last quarter. South Dakota Investment Council boosted its position in shares of Macy’s by 15.8% in the second quarter. South Dakota Investment Council now owns 80,000 shares of the company’s stock worth $2,689,000 after buying an additional 10,900 shares during the last quarter. Finally, Freestone Capital Holdings LLC boosted its position in shares of Macy’s by 35.5% in the second quarter. Freestone Capital Holdings LLC now owns 53,932 shares of the company’s stock worth $1,813,000 after buying an additional 14,118 shares during the last quarter. Institutional investors and hedge funds own 83.44% of the company’s stock.

About Macy’s

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.

5 Day Chart for NYSE:M

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