Macy’s Inc. (M) Releases FY17 Earnings Guidance
Macy’s Inc. (NYSE:M) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $3.15-3.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.35.
A number of brokerages recently issued reports on M. Stifel Nicolaus reissued a hold rating and set a $38.00 price target on shares of Macy’s in a report on Tuesday, November 1st. Macquarie downgraded shares of Macy’s from an outperform rating to a neutral rating in a report on Friday, August 12th. Deutsche Bank AG increased their price objective on shares of Macy’s from $37.00 to $40.00 and gave the company a hold rating in a report on Friday, August 12th. Royal Bank Of Canada increased their price objective on shares of Macy’s from $35.00 to $40.00 and gave the company a sector perform rating in a report on Friday, August 12th. Finally, Standpoint Research assumed coverage on shares of Macy’s in a report on Thursday, August 25th. They set a buy rating and a $72.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $42.55.
Macy’s Inc. (NYSE:M) opened at 41.36 on Monday. Macy’s Inc. has a 52 week low of $29.94 and a 52 week high of $45.50. The company has a 50-day moving average of $36.85 and a 200-day moving average of $35.63. The stock has a market cap of $12.76 billion, a P/E ratio of 16.58 and a beta of 0.77.
Macy’s (NYSE:M) last released its earnings results on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.24. The firm earned $5.63 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. Macy’s’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. On average, analysts predict that Macy’s Inc. will post $3.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a $0.3775 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $1.51 dividend on an annualized basis and a yield of 3.65%. Macy’s’s dividend payout ratio (DPR) is 69.27%.
Several hedge funds and other institutional investors have recently bought and sold shares of M. Blackstone Group L.P. bought a new position in Macy’s during the second quarter worth approximately $27,230,000. FMR LLC increased its stake in Macy’s by 11.3% in the second quarter. FMR LLC now owns 5,960,934 shares of the company’s stock worth $200,347,000 after buying an additional 603,525 shares during the period. AQR Capital Management LLC increased its stake in Macy’s by 43.2% in the second quarter. AQR Capital Management LLC now owns 1,879,793 shares of the company’s stock worth $63,180,000 after buying an additional 567,288 shares during the period. APG Asset Management N.V. increased its stake in Macy’s by 82.4% in the second quarter. APG Asset Management N.V. now owns 1,177,035 shares of the company’s stock worth $39,560,000 after buying an additional 531,800 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in Macy’s by 182.2% in the second quarter. Point72 Asset Management L.P. now owns 809,590 shares of the company’s stock worth $27,210,000 after buying an additional 522,690 shares during the period. 83.44% of the stock is owned by institutional investors.
Macy’s Company Profile
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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