Macy's, Inc. Declares Quarterly Dividend of $0.17 (NYSE:M)

Macy's, Inc. (NYSE:M - Get Free Report) announced a quarterly dividend on Friday, October 25th, RTT News reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.1737 per share on Thursday, January 2nd. This represents a $0.69 annualized dividend and a yield of 4.51%.

Macy's has increased its dividend by an average of 20.6% annually over the last three years. Macy's has a dividend payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.1 %

Shares of M stock traded down $0.01 during mid-day trading on Friday, reaching $15.40. The stock had a trading volume of 3,700,724 shares, compared to its average volume of 6,357,065. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average price is $15.45 and its two-hundred day moving average price is $17.34. The firm has a market capitalization of $4.26 billion, a PE ratio of 513.33 and a beta of 2.11. Macy's has a 52-week low of $10.59 and a 52-week high of $22.10.

Macy's (NYSE:M - Get Free Report) last posted its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.23. The firm had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $5.06 billion. Macy's had a return on equity of 23.14% and a net margin of 0.80%. The business's revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities analysts expect that Macy's will post 2.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore ISI lowered 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 research report on Tuesday, July 16th. Argus upgraded Macy's to a "hold" rating in a research note on Thursday, October 10th. StockNews.com initiated coverage on Macy's in a report on Friday. They issued a "hold" rating on the stock. Telsey Advisory Group reiterated a "market perform" rating and issued a $21.00 price target on shares of Macy's in a research note on Wednesday, August 21st. Finally, Morgan Stanley reduced 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Macy's has an average rating of "Hold" and an average target price 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.