Equities research analysts expect Macy’s Inc (NYSE:M) to report $3.84 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Macy’s’ earnings, with the highest sales estimate coming in at $3.89 billion and the lowest estimate coming in at $3.77 billion. Macy’s reported sales of $5.17 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 25.7%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 19th.
On average, analysts expect that Macy’s will report full year sales of $16.68 billion for the current year, with estimates ranging from $16.43 billion to $16.98 billion. For the next year, analysts forecast that the firm will report sales of $20.75 billion, with estimates ranging from $19.76 billion to $21.43 billion. Zacks’ sales averages 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 issued its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.81) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.77) by $0.96. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Macy’s had a negative return on equity of 4.56% and a negative net margin of 18.27%. The firm’s revenue for the quarter was down 35.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share.
Several institutional investors and hedge funds have recently made changes to their positions in M. Two Sigma Advisers LP grew its holdings in shares of Macy’s by 5,366.1% in the first quarter. Two Sigma Advisers LP now owns 3,771,582 shares of the company’s stock worth $18,518,000 after purchasing an additional 3,702,582 shares during the last quarter. State Street Corp increased its position in shares of Macy’s by 18.2% during the first quarter. State Street Corp now owns 16,675,661 shares of the company’s stock worth $87,840,000 after acquiring an additional 2,570,853 shares during the period. Principal Financial Group Inc. raised its stake in shares of Macy’s by 419.6% during the second quarter. Principal Financial Group Inc. now owns 2,363,628 shares of the company’s stock valued at $16,262,000 after acquiring an additional 1,908,743 shares in the last quarter. Capital World Investors bought a new stake in shares of Macy’s during the first quarter valued at approximately $9,329,000. Finally, SG Americas Securities LLC raised its stake in shares of Macy’s by 2,879.1% during the second quarter. SG Americas Securities LLC now owns 1,831,641 shares of the company’s stock valued at $12,602,000 after acquiring an additional 1,770,157 shares in the last quarter. 83.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE M traded up $0.11 during trading on Friday, reaching $6.98. The company had a trading volume of 20,677,291 shares, compared to its average volume of 30,839,551. Macy’s has a 12-month low of $4.38 and a 12-month high of $18.57. The stock has a market cap of $2.17 billion, a PE ratio of -0.59 and a beta of 1.53. The business’s 50-day moving average is $6.82 and its 200 day moving average is $6.84. The company has a quick ratio of 0.42, a current ratio of 1.16 and a debt-to-equity ratio of 2.09.
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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