Jefferies Group Weighs in on Macy’s Inc’s FY2019 Earnings (M)
Macy’s Inc (NYSE:M) – Research analysts at Jefferies Group lowered their FY2019 earnings estimates for shares of Macy’s in a research report issued to clients and investors on Thursday. Jefferies Group analyst R. Konik now expects that the company will earn $2.75 per share for the year, down from their previous forecast of $2.92. Jefferies Group currently has a “Hold” rating and a $21.00 target price on the stock.
Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. TRADEMARK VIOLATION NOTICE: This piece was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/11/14/jefferies-group-weighs-in-on-macys-incs-fy2019-earnings-m.html.
M has been the topic of several other research reports. Vetr raised shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 target price on the stock in a research note on Wednesday, August 2nd. BMO Capital Markets set a $36.00 target price on shares of Macy’s and gave the company a “buy” rating in a research note on Friday, August 11th. Cowen and Company reaffirmed a “market perform” rating and issued a $23.00 target price (down previously from $26.00) on shares of Macy’s in a research note on Friday, August 11th. BidaskClub lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Finally, ValuEngine raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $26.25.
Macy’s (NYSE M) traded down $0.65 on Monday, reaching $19.33. 21,387,100 shares of the company’s stock traded hands, compared to its average volume of 9,769,542. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. The firm has a market cap of $6,085.91, a PE ratio of 6.73, a PEG ratio of 0.69 and a beta of 0.86. Macy’s has a 52-week low of $17.41 and a 52-week high of $45.41.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s payout ratio is currently 66.52%.
In related news, Director John A. Bryant purchased 9,825 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average price of $20.32 per share, with a total value of $199,644.00. Following the completion of the purchase, the director now owns 9,825 shares in the company, valued at approximately $199,644. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC raised its holdings in shares of Macy’s by 163.1% in the second quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock valued at $10,487,000 after purchasing an additional 279,720 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of Macy’s by 57.8% in the third quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock valued at $48,944,000 after purchasing an additional 821,366 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Macy’s by 48.4% in the second quarter. Neuberger Berman Group LLC now owns 928,351 shares of the company’s stock valued at $21,575,000 after purchasing an additional 302,628 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in Macy’s by 27.8% during the second quarter. Commonwealth Bank of Australia now owns 140,199 shares of the company’s stock worth $3,257,000 after buying an additional 30,500 shares during the last quarter. Finally, Benchmark Capital Advisors acquired a new position in Macy’s during the third quarter worth $1,335,000. Institutional investors own 83.17% 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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