Macy’s (NYSE:M – Get Free Report) is set to announce its earnings results before the market opens on Thursday, November 16th. Analysts expect the company to announce earnings of $0.00 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.
Macy’s (NYSE:M – Get Free Report) last announced its earnings results on Tuesday, August 22nd. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.13. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.07 billion. Macy’s had a net margin of 3.15% and a return on equity of 22.46%. Macy’s’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. On average, analysts expect Macy’s to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Macy’s Trading Down 7.0 %
Shares of M stock opened at $11.54 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.26 and a quick ratio of 0.27. The firm has a market cap of $3.16 billion, a PE ratio of 4.27, a price-to-earnings-growth ratio of 0.37 and a beta of 1.90. The company has a 50-day moving average of $11.50 and a two-hundred day moving average of $14.02. Macy’s has a 1-year low of $10.54 and a 1-year high of $25.12.
Macy’s Announces Dividend
Institutional Investors Weigh In On Macy’s
Several institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC raised its stake in shares of Macy’s by 0.4% during the 1st quarter. Gabelli Funds LLC now owns 129,000 shares of the company’s stock worth $3,142,000 after buying an additional 500 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Macy’s by 1.8% during the 1st quarter. Vontobel Holding Ltd. now owns 35,384 shares of the company’s stock worth $862,000 after buying an additional 640 shares during the last quarter. Lazard Asset Management LLC raised its stake in Macy’s by 52.3% in the 1st quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock valued at $48,000 after purchasing an additional 685 shares during the last quarter. Estabrook Capital Management raised its stake in Macy’s by 77.8% in the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock valued at $39,000 after purchasing an additional 700 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in Macy’s by 4.0% in the 2nd quarter. Captrust Financial Advisors now owns 20,999 shares of the company’s stock valued at $337,000 after purchasing an additional 802 shares during the last quarter. 82.69% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
M has been the topic of several analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 target price (down previously from $16.00) on shares of Macy’s in a report on Tuesday, August 22nd. StockNews.com initiated coverage on shares of Macy’s in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Bank of America reduced their target price on shares of Macy’s from $13.00 to $12.00 and set an “underperform” rating on the stock in a report on Wednesday, August 23rd. Gordon Haskett cut shares of Macy’s from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a report on Wednesday, September 27th. Finally, The Goldman Sachs Group cut their price objective on shares of Macy’s from $23.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.27.
Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.
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