Wall Street analysts expect Macy's, Inc. (NYSE:M) to report sales of $6.51 billion for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Macy's' earnings, with estimates ranging from $6.47 billion to $6.54 billion. Macy's posted sales of $8.34 billion during the same quarter last year, which would indicate a negative year over year growth rate of 21.9%. The company is scheduled to report its next earnings report on Tuesday, February 23rd.
On average, analysts expect that Macy's will report full year sales of $17.16 billion for the current fiscal year, with estimates ranging from $16.99 billion to $17.53 billion. For the next financial year, analysts anticipate that the firm will post sales of $20.44 billion, with estimates ranging from $18.96 billion to $21.13 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side analysts that follow Macy's.
Macy's (NYSE:M) last announced its quarterly earnings data on Wednesday, November 18th. The company reported ($0.19) EPS for the quarter, beating the Zacks' consensus estimate of ($0.81) by $0.62. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.85 billion. Macy's had a negative net margin of 19.91% and a negative return on equity of 8.21%. During the same quarter last year, the firm earned $0.07 earnings per share.
A number of equities research analysts have recently issued reports on M shares. Jefferies Financial Group upgraded shares of Macy's from a "hold" rating to a "buy" rating and set a $14.00 price target for the company in a research report on Friday, December 18th. OTR Global raised shares of Macy's to a "sell" rating in a research note on Friday, October 30th. Morgan Stanley raised their price objective on shares of Macy's from $5.00 to $6.00 and gave the stock an "underweight" rating in a research note on Friday, November 20th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Macy's from $9.00 to $15.00 and gave the stock a "hold" rating in a research note on Thursday, January 21st. Finally, HC Wainwright reissued a "buy" rating on shares of Macy's in a research note on Wednesday, January 20th. Eight research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. Macy's presently has a consensus rating of "Hold" and an average target price of $8.59.
Hedge funds have recently added to or reduced their stakes in the business. Chiron Capital Management LLC purchased a new stake in Macy's in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Macy's during the 4th quarter valued at $29,000. Nisa Investment Advisors LLC purchased a new stake in shares of Macy's during the 3rd quarter valued at $54,000. Levin Capital Strategies L.P. purchased a new stake in shares of Macy's during the 3rd quarter valued at $57,000. Finally, Conning Inc. purchased a new stake in shares of Macy's during the 3rd quarter valued at $61,000. 81.95% of the stock is owned by hedge funds and other institutional investors.
M stock opened at $17.73 on Thursday. The firm has a 50 day moving average of $11.86 and a 200-day moving average of $8.34. Macy's has a 12-month low of $4.38 and a 12-month high of $22.30. The company has a current ratio of 1.11, a quick ratio of 0.33 and a debt-to-equity ratio of 2.16. The company has a market cap of $5.50 billion, a price-to-earnings ratio of -1.46 and a beta of 1.98.
Macy's Company Profile
Macy's, Inc, an omnichannel retail organization, operates stores, websites, and mobile applications under the Macy's, Bloomingdale's, and bluemercury brands. It sells a range of merchandise, including apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods.
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