Macy’s (NYSE:M) Announces Earnings Results

Macy’s (NYSE:M) issued its quarterly earnings data on Thursday. The company reported $0.21 earnings per share for the quarter, MarketWatch Earnings reports. Macy’s had a return on equity of 22.46% and a net margin of 3.15%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business earned $0.52 EPS. The business’s revenue was down 7.1% on a year-over-year basis.

Macy’s Price Performance

Shares of NYSE:M traded up $0.99 during trading on Thursday, reaching $13.60. The company had a trading volume of 19,694,399 shares, compared to its average volume of 11,019,665. The company has a fifty day moving average of $11.43 and a two-hundred day moving average of $13.85. The company has a current ratio of 1.26, a quick ratio of 0.27 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.72 billion, a P/E ratio of 5.09, a price-to-earnings-growth ratio of 0.32 and a beta of 1.90. Macy’s has a 12 month low of $10.54 and a 12 month high of $25.12.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.1654 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio is currently 24.44%.

Institutional Investors Weigh In On Macy’s

Large investors have recently added to or reduced their stakes in the company. Holocene Advisors LP raised its stake in shares of Macy’s by 171.1% during the second quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock worth $89,603,000 after acquiring an additional 3,523,368 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in Macy’s by 196.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock worth $71,309,000 after purchasing an additional 2,287,287 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Macy’s by 27.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock worth $246,184,000 after purchasing an additional 2,155,936 shares during the last quarter. Renaissance Technologies LLC boosted its position in Macy’s by 126.2% during the first quarter. Renaissance Technologies LLC now owns 3,796,764 shares of the company’s stock valued at $92,489,000 after buying an additional 2,118,174 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Macy’s by 5.7% during the first quarter. Vanguard Group Inc. now owns 30,550,118 shares of the company’s stock valued at $744,202,000 after buying an additional 1,642,941 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on M shares. Gordon Haskett lowered Macy’s from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a report on Wednesday, September 27th. Evercore ISI initiated coverage on shares of Macy’s in a research report on Tuesday, November 7th. They set an “inline” rating and a $13.00 price target for the company. Morgan Stanley lowered their price objective on shares of Macy’s from $23.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, August 7th. StockNews.com started coverage on shares of Macy’s in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, Bank of America lowered their price target 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. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus target price of $15.27.

About Macy’s

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.