Macy’s, Inc. (NYSE:M) Declares Quarterly Dividend of $0.18

Macy’s, Inc. (NYSE:M) announced a quarterly dividend on Friday, February 28th, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 0.1824 per share on Tuesday, April 1st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.08%. This is an increase from Macy’s’s previous quarterly dividend of $0.17.

Macy’s has increased its dividend by an average of 32.3% per year over the last three years. Macy’s has a payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Macy’s to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.69 annual dividend with an expected future payout ratio of 28.3%.

Macy’s Trading Up 2.1 %

M opened at $14.35 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 24.32 and a beta of 2.05. The firm has a 50 day simple moving average of $15.39 and a 200 day simple moving average of $15.58. Macy’s has a fifty-two week low of $13.66 and a fifty-two week high of $22.10.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. On average, sell-side analysts anticipate that Macy’s will post 2.39 earnings per share for the current year.

Analysts Set New Price Targets

M has been the subject of a number of analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Thursday. Guggenheim restated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. UBS Group decreased their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.14.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.