Macy's Inc (M) Expected to Post Q1 2019 Earnings of $0.40 Per Share
Macy's Inc (NYSE:M) – Analysts at Jefferies Group issued their Q1 2019 earnings estimates for shares of Macy's in a research note issued on Tuesday. Jefferies Group analyst R. Konik forecasts that the company will post earnings per share of $0.40 for the quarter. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Macy's’ Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $2.38 EPS, FY2019 earnings at $3.60 EPS and FY2020 earnings at $3.20 EPS.
Macy's (NYSE:M) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.11. The business had revenue of $8.67 billion during the quarter, compared to the consensus estimate of $8.70 billion. Macy's had a return on equity of 24.93% and a net margin of 6.23%. Macy's’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the company earned $2.02 earnings per share.
Macy's (NYSE M) traded up $1.54 during mid-day trading on Friday, reaching $30.41. The company’s stock had a trading volume of 16,220,000 shares, compared to its average volume of 10,550,000. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.19 and a current ratio of 1.47. The company has a market capitalization of $9,260.00, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.79. Macy's has a 12-month low of $17.41 and a 12-month high of $33.17.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.51 annualized dividend and a yield of 4.97%. Macy's’s payout ratio is currently 47.48%.
In related news, CFO Karen M. Hoguet sold 67,515 shares of Macy's stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $29.39, for a total transaction of $1,984,265.85. Following the completion of the sale, the chief financial officer now directly owns 67,515 shares of the company’s stock, valued at approximately $1,984,265.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. raised its holdings in Macy's by 27.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the company’s stock valued at $353,000 after acquiring an additional 3,055 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Macy's by 7.1% in the 4th quarter. Xact Kapitalforvaltning AB now owns 53,586 shares of the company’s stock valued at $1,350,000 after acquiring an additional 3,568 shares in the last quarter. Delek Group Ltd. acquired a new position in Macy's in the 4th quarter valued at $7,414,000. Sawtooth Solutions LLC acquired a new position in Macy's in the 4th quarter valued at $1,064,000. Finally, Edmonds Duncan Registered Investment Advisors LLC acquired a new position in Macy's in the 4th quarter valued at $243,000. 88.32% of the stock is owned by hedge funds and other institutional investors.
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Macy's Company Profile
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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