Macy’s (NYSE:M – Get Rating) released an update on its fourth-quarter earnings outlook Friday morning. The company provided guidance for his earnings per share of $1.47 to $1.67 for the period, but expected earnings per share he was $1.62. The company issued low-end to midpoint revenue guidance of $8.161 billion to $8.41 billion, compared to consensus revenue estimates of $8.32 billion.
Analyst Rating Change
Many analysts recently published reports on the company. Jefferies Financial Group lowered its price target for Macy’s to $23.00 from his $30.00 to set a buy rating for the stock in a research report on Thursday, Sept. 15. OTR Global upgraded Macy’s shares from a mixed rating to a positive rating in a research note on Wednesday, November 9. Credit Suisse Group increased its price target for Macy’s stock to $19.00 in a research note on Monday, November 21st. StockNews.com downgraded Macy’s shares from buy to hold in a research note on Friday, Dec. 30. Finally, JPMorgan Chase & Co. lowered its price target on Macy’s stock to $28.00 from $29.00 in its research notes on Tuesday. Two analysts gave the stock a sell rating, five assigned a hold rating, and four assigned a buy rating. Based on MarketBeat.com data, the stock has a consensus rating of Hold and a consensus price target of $24.91.
Macy’s Price Performance
NYSE:M rose $0.57 to reach $22.13 during Friday’s trading hours. His 12,740,844 shares of the company were exchanged, but the average trading volume was 11,991,596 of his shares. The company has a debt to equity ratio of 0.86, a current ratio of 1.09 and a quick ratio of 0.14. His one-year low at Macy’s is $15.10 and his one-year high is $28.21. The company has a market capitalization of $6 billion, a P/E ratio of 4.66, a P/E/G ratio of 0.42 and a beta of 1.72. His 50-day moving average for this business is $21.35 and his 200-day moving average is $19.18.
Macy’s (NYSE:M – Get Rating) last reported quarterly results on Thursday, Nov. 17. The company reported his earnings per share (EPS) of $0.52 for the quarter, beating consensus expectations of his $0.19 by $0.33. The company’s revenue for the quarter was $5.23 billion, compared to consensus expectations of $5.2 billion. Macy’s had a net profit margin of 5.68% and a return on equity of 42.58%. The company’s quarterly revenue fell 3.9% compared to the same quarter last year. During the same period last year, the business earned him $1.23 per share. Research analysts expect Macy’s to post 4.2 EPS this year.
Macy’s Announces Dividend
The company recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. A dividend of $0.1575 was issued to investors of record on Thursday, December 15th. The ex-dividend date for this dividend was December 14 (Wednesday). This represents his $0.63 dividend and his 2.85% yield on an annualized basis. Macy’s payout percentage is 13.13%.
Macy’s Institutional Trading
Several hedge funds have recently changed their stock holdings. Captrust Financial Advisors increased his position at Macy’s by 16.0% in the second quarter. After Captrust Financial Advisors purchased an additional 3,436 shares during this period, he now owns 24,973 shares of the company worth $461,000. US Bancorp DE increased its position at Macy’s by 7.2% in the first quarter. US Bancorp DE now owns 18,576 shares of the company worth $452,000 after he purchased an additional 1,244 shares during this period. Creative Planning increased its stake in Macy’s by 13.6% in the second quarter. Creative Planning now owns 21,623 shares of the company, valued at $396,000, after purchasing an additional 2,584 shares during this period. Ergoteles LLC purchased new shares in his Macy’s worth $379,000 in the first quarter. Finally, Baird Financial Group Inc. increased his Macy’s holding by 65.6% in the first quarter. Baird Financial Group Inc. now owns 15,243 shares of the company worth $371,000 after purchasing an additional 6,040 of his shares during the previous quarter. Institutional investors own 80.19% of the company’s shares.
Macy’s Company Profile
Macy’s, Inc, an omnichannel retail organization, operates stores, websites, and mobile applications. The company sells a variety of merchandise, including apparel and accessories for men, women, and children. cosmetics; household goods; and other consumer goods. As of January 29, 2022, in the District of Columbia, Puerto Rico and Guam, 725 Macy’s, Macy’s Backstage and Market by He are Macy’s, Bloomingdale’s, Bloomingdale’s The Outlets, Bloomies and Blue Mercury brands. operates a department store.
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