Macy’s, Inc. (M) to Distribute Quarterly Dividend of $0.18 on April 1st

Macy’s, Inc. (NYSE:M) announced a quarterly dividend on Friday, February 28th, RTT News reports. Shareholders 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 yield of 5.08%. This is an increase from Macy’s’s previous quarterly dividend of $0.17.

Macy’s has increased its dividend payment by an average of 32.3% per year over the last three years. Macy’s has a payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

NYSE M opened at $14.35 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 24.32 and a beta of 2.05. The company’s fifty day moving average is $15.39 and its two-hundred day moving average is $15.58. Macy’s has a 52-week low of $13.66 and a 52-week high of $22.10.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research report on Thursday. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group reduced their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.14.

About Macy’s

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.