Macy’s Inc. (NYSE:M) issued an update on its FY14 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.80-3.90 for the period, compared to the Thomson Reuters consensus estimate of $3.80, AnalystRatingsNetwork.com reports. The company issued revenue guidance of comps +2.0-2.9%, compared to the consensus revenue estimate of $27.95 billion.
Shares of Macy’s Inc. (NYSE:M) opened at 50.68 on Thursday. Macy’s Inc. has a 1-year low of $36.30 and a 1-year high of $50.95. The stock’s 50-day moving average is $44.68 and its 200-day moving average is $46.60. The company has a market cap of $19.068 billion and a price-to-earnings ratio of 13.41. Macy’s also was the target of unusually large options trading activity on Tuesday. Traders purchased 26,329 call options on the company. This represents an increase of approximately 335% compared to the typical volume of 6,057 call options.
Macy’s (NYSE:M) last announced its earnings results on Wednesday, November 13th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.08. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that Macy’s Inc. will post $3.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Wednesday, December 11th.
Several analysts have recently commented on the stock. Analysts at Wells Fargo & Co. reiterated a market perform rating on shares of Macy’s in a research note to investors on Wednesday. They now have a $44.00 price target on the stock. On a related note, analysts at Standpoint Research initiated coverage on shares of Macy’s in a research note to investors on Tuesday, November 5th. They set a hold rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $50.32.
Macy’s, Inc (NYSE:M) is a retail organization operating stores and Internet Websites under two brands (Macy’s and Bloomingdale’s) that sell a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico.
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