Macy’s Inc (NYSE:M) Expected to Announce Quarterly Sales of $5.35 Billion

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Wall Street analysts forecast that Macy’s Inc (NYSE:M) will post sales of $5.35 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Macy’s’ earnings. The highest sales estimate is $5.36 billion and the lowest is $5.34 billion. Macy’s reported sales of $5.40 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.9%. The company is expected to announce its next quarterly earnings results on Wednesday, November 13th.

On average, analysts expect that Macy’s will report full-year sales of $24.84 billion for the current year, with estimates ranging from $24.77 billion to $24.91 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $24.71 billion, with estimates ranging from $24.36 billion to $24.99 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Macy’s.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.17). Macy’s had a net margin of 4.11% and a return on equity of 18.74%. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year.

M has been the subject of several research analyst reports. UBS Group set a $25.00 price objective on Macy’s and gave the stock a “hold” rating in a research note on Friday, May 17th. Goldman Sachs Group upgraded Macy’s from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $21.00 in a research note on Thursday, May 16th. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Deutsche Bank reduced their price objective on Macy’s from $29.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $18.00 price objective (down from $25.00) on shares of Macy’s in a research note on Thursday, August 15th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.83.

In related news, CFO Paula A. Price sold 1,189 shares of Macy’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total transaction of $25,325.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in M. Treasurer of the State of North Carolina grew its holdings in Macy’s by 9.1% in the second quarter. Treasurer of the State of North Carolina now owns 247,647 shares of the company’s stock valued at $5,315,000 after purchasing an additional 20,760 shares during the period. Nomura Holdings Inc. grew its holdings in Macy’s by 1.9% in the second quarter. Nomura Holdings Inc. now owns 125,086 shares of the company’s stock valued at $2,675,000 after purchasing an additional 2,330 shares during the period. BlackRock Inc. grew its holdings in Macy’s by 1.9% in the second quarter. BlackRock Inc. now owns 30,631,976 shares of the company’s stock valued at $657,361,000 after purchasing an additional 558,052 shares during the period. Maverick Capital Ltd. grew its holdings in Macy’s by 99.6% in the second quarter. Maverick Capital Ltd. now owns 752,610 shares of the company’s stock valued at $16,151,000 after purchasing an additional 375,620 shares during the period. Finally, Magnetar Financial LLC grew its holdings in Macy’s by 85.6% in the second quarter. Magnetar Financial LLC now owns 31,582 shares of the company’s stock valued at $678,000 after purchasing an additional 14,566 shares during the period. Institutional investors own 89.04% of the company’s stock.

Macy’s stock opened at $14.94 on Tuesday. Macy’s has a one year low of $14.84 and a one year high of $38.35. The stock has a market cap of $4.81 billion, a PE ratio of 3.57, a price-to-earnings-growth ratio of 0.72 and a beta of 0.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.34 and a current ratio of 1.47. The stock has a 50-day moving average of $20.39 and a two-hundred day moving average of $22.54.

Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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

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