Macy’s, Inc. (NYSE:M – Get Free Report) declared a quarterly dividend on Friday, October 25th, RTT News reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.1737 per share on Thursday, January 2nd. This represents a $0.69 annualized dividend and a dividend yield of 4.51%.
Macy’s has raised its dividend by an average of 20.6% per year over the last three years. Macy’s has a dividend payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Macy’s to earn $2.62 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 26.3%.
Macy’s Price Performance
NYSE:M opened at $15.39 on Friday. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 24.05 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The stock has a fifty day moving average of $15.45 and a 200 day moving average of $17.33. Macy’s has a 52-week low of $10.59 and a 52-week high of $22.10.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Macy’s in a research report on Friday. They issued a “hold” rating for the company. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI decreased their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Finally, Morgan Stanley cut their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Macy’s currently has an average rating of “Hold” and a consensus target price of $20.43.
Read Our Latest Stock Report on M
About Macy’s
Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.
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