Macy’s (M) Scheduled to Post Earnings on Wednesday

Macy’s (NYSE:M) will be announcing its earnings results before the market opens on Wednesday, August 21st. Analysts expect the company to announce earnings of $0.31 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.82 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. On average, analysts expect Macy’s to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Macy’s Price Performance

Macy’s stock opened at $17.85 on Tuesday. The business has a 50 day simple moving average of $17.55 and a 200 day simple moving average of $18.78. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. The company has a market capitalization of $4.93 billion, a PE ratio of 594.83 and a beta of 2.18. Macy’s has a one year low of $10.54 and a one year high of $22.10.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on M shares. JPMorgan Chase & Co. raised their price target on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Evercore ISI lowered their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 14th. TD Cowen increased their price objective on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Finally, StockNews.com initiated coverage on shares of Macy’s in a research note on Wednesday, August 14th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.10.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the sale, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Macy’s news, CEO Antony Spring sold 18,981 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The disclosure for this sale can be found here. Insiders have sold 43,464 shares of company stock worth $824,081 in the last 90 days. Corporate insiders own 2.77% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.