Analysts Expect Macy’s Inc (NYSE:M) Will Post Quarterly Sales of $5.50 Billion
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.
ILLEGAL ACTIVITY WARNING: “Analysts Expect Macy’s Inc (NYSE:M) Will Post Quarterly Sales of $5.50 Billion” was first published by Daily Political and is the property of of Daily Political. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://www.dailypolitical.com/2017/08/11/analysts-expect-macys-inc-nysem-will-post-quarterly-sales-of-5-50-billion.html.
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related companies with MarketBeat.com's FREE daily email newsletter.