Macy’s, Inc. (M) to Issue Quarterly Dividend of $0.17 on January 2nd

Macy’s, Inc. (NYSE:M) 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.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. Macy’s’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, research analysts expect that Macy’s will post 2.72 EPS for the current fiscal year.

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.

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.