Jefferies Group Weighs in on Macy’s Inc.’s FY2017 Earnings (M)
Macy’s Inc. (NYSE:M) – Equities research analysts at Jefferies Group increased their FY2017 EPS estimates for shares of Macy’s in a report released on Thursday. Jefferies Group analyst R. Konik now forecasts that the firm will post earnings of $3.35 per share for the year, up from their previous estimate of $3.30. Jefferies Group currently has a “Hold” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Macy’s’ Q4 2017 earnings at $2.25 EPS.
Macy’s (NYSE:M) last announced its earnings results on Thursday, November 10th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.24. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. The company earned $5.63 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis.
Other analysts have also recently issued research reports about the company. Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a report on Monday, October 17th. Citigroup Inc. raised Macy’s from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.42 to $44.00 in a report on Wednesday, September 14th. Guggenheim assumed coverage on Macy’s in a report on Friday, September 30th. They issued a “buy” rating and a $45.00 price target on the stock. Zacks Investment Research cut Macy’s from a “buy” rating to a “hold” rating in a report on Monday, October 24th. Finally, Credit Suisse Group AG cut Macy’s from an “outperform” rating to a “neutral” rating and set a $40.00 price target on the stock. in a report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $43.57.
Shares of Macy’s (NYSE:M) traded up 2.05% during mid-day trading on Friday, reaching $41.36. The company had a trading volume of 9,285,733 shares. The stock has a 50 day moving average price of $36.85 and a 200 day moving average price of $35.63. Macy’s has a 12-month low of $29.94 and a 12-month high of $45.50. The firm has a market capitalization of $12.76 billion, a PE ratio of 16.58 and a beta of 0.77.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be given a dividend of $0.3775 per share. The ex-dividend date is Tuesday, December 13th. This represents a $1.51 annualized dividend and a dividend yield of 3.65%. Macy’s’s dividend payout ratio is presently 69.27%.
Several large investors have recently added to or reduced their stakes in M. Marcato Capital Management LP boosted its position in shares of Macy’s by 12.5% in the first quarter. Marcato Capital Management LP now owns 2,514,826 shares of the company’s stock worth $110,879,000 after buying an additional 280,335 shares during the last quarter. Natixis acquired a new position in Macy’s during the first quarter valued at $39,068,000. Scopia Capital Management LP acquired a new position in Macy’s during the first quarter valued at $106,608,000. Bourgeon Capital Management LLC acquired a new position in Macy’s during the second quarter valued at $252,000. Finally, Candriam Luxembourg S.C.A. boosted its position in Macy’s by 59.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 351,237 shares of the company’s stock valued at $11,806,000 after buying an additional 130,557 shares in the last quarter. Institutional investors own 83.44% of the company’s stock.
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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