Macy’s, Inc. Plans Quarterly Dividend of $0.18 (NYSE:M)

Macy’s, Inc. (NYSE:M) announced a quarterly dividend on Friday, October 24th. Shareholders of record on Monday, December 15th will be paid a dividend of 0.1824 per share on Friday, January 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 15th.

Macy’s has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Macy’s has a payout ratio of 38.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Macy’s to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.73 annual dividend with an expected future payout ratio of 29.9%.

Macy’s Stock Up 0.7%

Shares of Macy’s stock traded up $0.18 on Friday, hitting $24.18. 7,462,023 shares of the company traded hands, compared to its average volume of 7,848,463. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. Macy’s has a 12-month low of $9.76 and a 12-month high of $24.41. The company has a 50-day moving average price of $20.08 and a 200 day moving average price of $15.83. The company has a market cap of $6.43 billion, a PE ratio of 14.31 and a beta of 1.44.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.22. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 earnings per share. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Sell-side analysts predict that Macy’s will post 2.39 earnings per share for the current year.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.