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

Macy’s, Inc. (NYSE:M) announced a quarterly dividend on Friday, February 28th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 5.18%. This is a positive change 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 dividend payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.2 %

M stock traded up $0.04 during midday trading on Friday, reaching $14.10. 3,298,283 shares of the company’s stock traded hands, compared to its average volume of 6,275,022. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $15.42 and its 200-day moving average price is $15.60. Macy’s has a 52 week low of $13.66 and a 52 week high of $22.10. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 23.94 and a beta of 2.05.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. UBS Group reduced their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Finally, Morgan Stanley reduced their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and an average price target of $17.75.

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.