Analysts predict that Macy’s Inc (NYSE:M) will announce $5.50 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Macy’s’ earnings. The highest sales estimate is $5.56 billion and the lowest is $5.44 billion. Macy’s posted sales of $5.87 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 10th.

According to Zacks, analysts expect that Macy’s will report full year sales of $5.50 billion for the current financial year, with estimates ranging from $24.51 billion to $24.87 billion. For the next fiscal year, analysts anticipate that the company will report sales of $23.70 billion per share, with estimates ranging from $23.34 billion to $23.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Macy’s.

Macy’s (NYSE:M) last released its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a return on equity of 22.37% and a net margin of 2.26%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share.

M has been the topic of a number of research reports. Wunderlich restated a “buy” rating and issued a $24.00 price target on shares of Macy’s in a report on Friday, May 5th. Guggenheim restated a “buy” rating and issued a $26.00 price target on shares of Macy’s in a report on Friday, June 16th. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target on the stock. in a report on Thursday, July 27th. BMO Capital Markets restated a “buy” rating and issued a $36.00 price target on shares of Macy’s in a report on Friday. Finally, Jefferies Group LLC restated a “hold” rating and issued a $27.00 price target on shares of Macy’s in a report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.89.

Macy’s (M) opened at 20.67 on Friday. The stock has a market cap of $6.29 billion, a P/E ratio of 11.15 and a beta of 0.84. Macy’s has a 52-week low of $20.55 and a 52-week high of $45.41. The stock has a 50 day moving average price of $22.91 and a 200 day moving average price of $26.93. Macy’s also was the target of unusually large options trading on Wednesday. Stock traders acquired 33,975 call options on the company. This represents an increase of approximately 489% compared to the typical daily volume of 5,766 call options.

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In other news, Director William H. Lenehan acquired 4,390 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was acquired at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the acquisition, the director now directly owns 5,968 shares in the company, valued at approximately $135,592.96. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey Gennette acquired 13,085 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were purchased at an average price of $22.95 per share, with a total value of $300,300.75. Following the completion of the acquisition, the insider now owns 89,053 shares in the company, valued at $2,043,766.35. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. First Manhattan Co. increased its stake in Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares during the last quarter. Heritage Investors Management Corp increased its stake in Macy’s by 0.3% in the first quarter. Heritage Investors Management Corp now owns 19,254 shares of the company’s stock worth $571,000 after buying an additional 50 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Macy’s by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock worth $526,000 after buying an additional 65 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Macy’s by 0.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,085 shares of the company’s stock worth $773,000 after buying an additional 76 shares during the last quarter. Finally, Cleararc Capital Inc. increased its stake in Macy’s by 1.0% in the first quarter. Cleararc Capital Inc. now owns 12,795 shares of the company’s stock worth $379,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 84.30% of the company’s stock.

About Macy’s

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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Earnings History and Estimates for Macy`s (NYSE:M)

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