Macy’s (NYSE:M – Get Free Report) 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
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.
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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