Macy's Q1 Earnings Report: What You Need To Know

Macy's department store

Macy's Q1 Earnings Report: What You Need To Know

Zacks Investment Research lowered shares of Macy's from a "buy" rating to a "hold" rating in a research note on Tuesday, May 8th. Royal Bank of Canada set a $26.00 target price on Macy's and gave the stock a "hold" rating in a report on Friday, January 19th. Gordon Haskett upgraded shares of Macy's from a "hold" rating to a "buy" rating and set a $36.00 target price for the company in a research note on Thursday, March 1st. Finally, Morgan Stanley downgraded shares of Macy's from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $29.71 to $25.00 in a report on Thursday, May 10th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. The stock now has an average rating of "Hold" and a consensus target price of $26.63. The company traded as low as $31.70 and last traded at $31.67, with a volume of 4139089 shares changing hands.

The stock has a market cap of $9,296.40, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 0.99 and a beta of 0.75. The company has a quick ratio of 0.45, a current ratio of 1.47 and a debt-to-equity ratio of 1.04.

Macy's (NYSE:M) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11.

Macy's said it earned 48 cents per share in the first quarter on revenue of $5.54 billion, which exceeded expectations of 35 cents per share and $5.39 billion. Macy's had a return on equity of 24.93% and a net margin of 6.23%.

Macy's (M) crushed first-quarter expectations early Wednesday and raised full-year guidance, sending the stock shooting higher.

Analysts expect the retailer to disclose revenue of $5.43B and EPS of $0.37. Stockholders of record on Thursday, March 15th were given a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Wednesday, March 14th.

In other Macy's news, Director Marna C. Whittington sold 20,000 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $29.25, for a total value of $265,941.00. The shares were sold at an average price of $30.30, for a total transaction of $606,000.00. The disclosure for this purchase can be found here.

Comparable sales on an owned basis were up 3.9 percent in the quarter and up 4.2 percent on an owned plus licensed basis, the company said. SG Americas Securities LLC's holdings in Macy's were worth $2,742,000 at the end of the most recent reporting period. Bank of New York Mellon Corp raised its position in shares of Macy's by 28.0% in the fourth quarter. Following the completion of the purchase, the chairman now directly owns 89,303 shares in the company, valued at $2,598,717.30. Prudential Financial Inc. lifted its stake in Macy's by 75.3% during the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company's stock worth $109,392,000 after purchasing an additional 2,153,110 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Macy's during the 4th quarter valued at $119,000. Excluding asset sale gains in the quarter, the company would have earned 42 cents per share which is up from 12 cents earned in the same quarter a year ago. Cerebellum GP LLC bought a new stake in Macy's during the 4th quarter valued at $127,000.

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