Macy’s Inc (NYSE:M) to Release Quarterly Earnings on Thursday
Macy’s Inc (NYSE:M) is scheduled to announce its earnings results before the market opens on Thursday, August 10th. Analysts expect the company to announce earnings of $0.44 per share for the quarter. Macy’s has set its FY18 guidance at $2.90-3.15 EPS.
Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.12. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.49 billion. Macy’s had a net margin of 2.26% and a return on equity of 22.37%. The company’s revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. On average, analysts expect Macy’s to post $3.18 EPS for the current fiscal year and $2.71 EPS for the next fiscal year.
Shares of Macy’s Inc (M) opened at 23.56 on Tuesday. The company has a 50-day moving average of $22.80 and a 200 day moving average of $27.21. Macy’s Inc has a 12-month low of $20.85 and a 12-month high of $45.41. The firm has a market capitalization of $7.17 billion, a PE ratio of 12.71 and a beta of 0.84.
In other Macy’s news, Director William H. Lenehan bought 4,390 shares of the stock in a transaction dated Thursday, June 15th. The stock was bought at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the purchase, the director now owns 5,968 shares in the company, valued at approximately $135,592.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Gennette bought 13,085 shares of the stock in a transaction dated Monday, June 12th. The stock was acquired at an average price of $22.95 per share, with a total value of $300,300.75. Following the completion of the purchase, the insider now owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.
Several equities research analysts have recently weighed in on M shares. Goldman Sachs Group, Inc. (The) reduced their price objective on Macy’s from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 7th. Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $30.62 price objective for the company in a research report on Thursday, May 11th. Gordon Haskett started coverage on Macy’s in a research report on Tuesday, May 9th. They issued a “hold” rating and a $29.00 price objective for the company. Bank of America Corporation reduced their price objective on Macy’s from $31.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, June 9th. Finally, BidaskClub raised Macy’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.07.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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