The ticker symbol for Macy’s, Inc. can be written as NASDAQ: M. The stock analysts from Jefferies Financial Group reduced their earnings per share (EPS) prediction for Macy’s for the first quarter of 2024 in research that was made public on September 14. S. Wissink, an analyst at Jefferies Financial Group, predicted that the company would earn $0.74 per share for the quarter. This decreased from the prior estimate, which was $0.79 per share. The stock currently carries a new recommendation from Jefferies Financial Group of “Buy,” and the company has established a price goal of $23.00. According to the consensus among financial analysts, Macy’s is expected to round out the year with earnings of $4.13 per share. In addition, Jefferies Financial Group projected that Macy’s profits for the second quarter of 2024 would be $0.76 per share, profits for the third quarter of 2024 would be $0.37 per share, profits for the fourth quarter of 2024 would be $2.09 per share, and profits for the full year of 2024 would be $3.96 per share.
These figures were based on the company’s projected revenue.
On Tuesday, August 23, 2018, the most recent quarterly report for Macy’s (NYSE: M) was made available to the general public. The company reported $1.00 per share for the quarter, which is $0.15 more than the analysts’ consensus estimate of $0.85 per share for the period’s earnings. Macy’s had a return on equity of 51.29% and a net margin of 6.16% for the company overall. The company generated earnings of $1.29 per share during the same period in the prior year’s operations. Trading in M shares got underway on Friday for $16.66 per share. The company has a price-to-earnings ratio of 3.22, a price-to-earnings-growth ratio of 0.33, and a beta value of 1.68. These ratios measure how much the current price of the stock is relative to its future earnings. The total value of the corporation, as represented by its market capitalization, is $4.51 billion. 0.19 is the value shared by all three ratios: the debt-to-equity ratio, the current ratio, and the quick ratio. The current and quick ratios are at 1.17, while the quick ratios are at 0.85. The moving average for the company over the previous fifty days is $18.02, and the moving average for the past two hundred days is $21.35. Over the past year, the share price of Macy’s has ranged from a low of $15.85 to a high of $37.95.
Additional equity analysts have chimed in with their takes on the company, adding to the growing body of commentary. On Wednesday, August 24, Evercore ISI released a research note stating that the price objective for Macy’s had been lowered from $35.00 to $30.00 and that the company was rated as “outperform.” Evercore ISI also stated that the price objective for Macy’s had been lowered from $35.00 to $30.00. Macy’s received an “equal weight” rating from Morgan Stanley in a research report published on Wednesday, August 24. Due to this rating, the firm reduced its target price for the business from $22 to $21, which was announced on the same day. On August 24, Telsey Advisory Group made public the research findings of a study conducted on Macy’s. They claimed in the report that they had decreased their target price for the firm from $28.00 to $25.00 and classified the company as “market perform.” In a report on the stock published on August 31, StockNews.com changed its rating for Macy’s stock from “buy” to “hold” in a report on the stock. The report on the retailer’s stock was published on the website. According to a research study published on Wednesday, August 24, by Citigroup, the business was given a “neutral” rating, and their price objective for Macy’s was reduced from $23.00 to $21.00.
The examination focused on the operational and financial performance of the company. Two research experts have urged investors to sell the stock, and six others have indicated that investors should keep the stock in their portfolios. Five industry professionals have stated that investors should buy the securities. According to data from Bloomberg, most investors currently have a “Hold” rating for the business, and the average price target is $27.08.
In addition, the corporation has recently disclosed that it will commence disbursing a quarterly dividend to shareholders beginning on Monday, October 3. Those shareholders who have their shares “recorded” will be eligible to receive a dividend payment on September 15 for $0.1575 per share. The previous quarterly dividend payment made by Macy’s was $0.16. This one is significantly larger than that amount. September 14, which is a Wednesday, is the day that will no longer count toward the total of the dividend. Considering the present price, this results in a dividend payout of $0.63 per year and a yield of 3.78%. The current payout ratio for Macy’s is 12.19% as of right now.
As part of other news relating to Macy’s, the Chief Executive Officer of the firm, Jeffrey Gennette, sold 78,021 shares of the company’s stock on Monday, July 11.
It was determined that the price per share would be $17.36, and the total value of the stock sold was calculated to be $1,354,444.56. After the conclusion of the transaction, the CEO now owns 405,744 shares of the firm. Based on the current market price, these shares have a value of about $7,043,715.84. The transaction was disclosed to the general public through a file filed with the SEC. This filing may be located on the website of the SEC. On Wednesday, August 31, Senior Vice President Paul Griscom sold 2,868 company stock shares, as noted earlier in the sentence. It was established that the weighted average price paid for the shares sold for a total of $49,989.24 was $17.43. The price of the shares was decided to be the weighted average price. The senior vice president now owns 4,688 shares of company stock, which have a combined value of $81,711.84 as a result of the successful completion of the transaction. Users of this website are provided with the option to review the filing presented to the Securities and Exchange Commission in which the transaction was disclosed to the public.
In addition, on July 11, the President and Chief Executive Officer of the company, Jeffrey Gennette, sold 78,021 shares of the company’s stock. It was determined that the price per share would be $17.36, and the total value of the stock sold was calculated to be $1,354,444.56. As a direct consequence of the transaction, the Chief Executive Officer now directly controls 405,744 shares. These shares have a value of about $7,043,715.84. Disclosures that are related to the sale might be found in this section of the website. Corporate insiders were responsible for selling 100,026 company stock during the preceding three months, which resulted in total revenue of $1,736,856. The company’s management and employees collectively own 0.58% of the total shares issued by the company.