Macy’s, Inc. (NYSE:M) Announces Quarterly Dividend of $0.17

Macy’s, Inc. (NYSE:M) declared a quarterly dividend on Friday, October 25th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 4.51%.

Macy’s has raised its dividend payment by an average of 20.6% annually over the last three years. Macy’s has a 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 Stock Down 0.1 %

Shares of NYSE:M opened at $15.40 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 513.33 and a beta of 2.11. The company has a 50 day moving average of $15.45 and a 200-day moving average of $17.34. Macy’s has a one year low of $10.59 and a one year high of $22.10.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on M shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. StockNews.com initiated coverage on shares of Macy’s in a report on Friday. They issued a “hold” rating on the stock. Evercore ISI decreased their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley reduced their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Macy’s has an average rating of “Hold” and a consensus price target of $20.43.

Macy’s Company Profile

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.