Macy’s (M) Scheduled to Post Earnings on Thursday

Macy’s (NYSE:M – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Thursday, June 1st. Analysts expect Macy’s to post earnings of $0.46 per share for the quarter. Macy’s has set its FY24 guidance at $3.67-4.11 EPS and its FY 2023 guidance at $3.67-$4.11 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Macy’s (NYSE:M – Get Rating) last issued its earnings results on Thursday, March 2nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.57 by $0.31. The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.27 billion. Macy’s had a return on equity of 35.06% and a net margin of 4.82%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.45 EPS. On average, analysts expect Macy’s to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Macy’s Price Performance

Shares of M opened at $15.18 on Thursday. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 3.62, a PEG ratio of 0.33 and a beta of 1.81. The stock has a 50 day moving average of $16.79 and a 200-day moving average of $20.04. The company has a current ratio of 1.20, a quick ratio of 0.33 and a debt-to-equity ratio of 0.73. Macy’s has a 52 week low of $14.48 and a 52 week high of $25.12.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th were given a $0.1654 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $0.66 annualized dividend and a dividend yield of 4.36%. Macy’s’s dividend payout ratio (DPR) is presently 15.75%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in M. Raymond James Financial Services Advisors Inc. raised its stake in Macy’s by 7.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 44,210 shares of the company’s stock worth $1,077,000 after buying an additional 2,981 shares during the period. US Bancorp DE raised its stake in Macy’s by 7.2% during the 1st quarter. US Bancorp DE now owns 18,576 shares of the company’s stock worth $452,000 after buying an additional 1,244 shares during the period. Natixis Advisors L.P. raised its stake in shares of Macy’s by 34.4% in the 1st quarter. Natixis Advisors L.P. now owns 28,563 shares of the company’s stock valued at $696,000 after purchasing an additional 7,317 shares during the period. APG Asset Management N.V. acquired a new stake in shares of Macy’s in the 1st quarter valued at about $1,482,000. Finally, Great West Life Assurance Co. Can raised its stake in shares of Macy’s by 13.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 219,731 shares of the company’s stock valued at $5,550,000 after purchasing an additional 26,827 shares during the period. Institutional investors and hedge funds own 80.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on M shares. StockNews.com started coverage on Macy’s in a research report on Thursday, May 18th. They set a “hold” rating for the company. Citigroup boosted their price objective on Macy’s from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. The Goldman Sachs Group assumed coverage on Macy’s in a research report on Monday, January 30th. They set a “buy” rating and a $28.00 price target for the company. Credit Suisse Group boosted their price target on Macy’s from $19.00 to $20.00 and gave the stock an “underperform” rating in a research report on Friday, March 3rd. Finally, JPMorgan Chase & Co. reduced their price target on Macy’s from $29.00 to $26.00 in a research report on Monday, May 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Macy’s has a consensus rating of “Hold” and an average target price of $23.58.

Macy’s Company Profile

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Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.