Macy’s Inc (NYSE:M) declared a quarterly dividend on Friday, October 27th, RTT News reports. Stockholders of record on Friday, December 15th will be given a dividend of 0.3775 per share on Tuesday, January 2nd. This represents a $1.51 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date of this dividend is Thursday, December 14th.

Macy’s has increased its dividend payment by an average of 17.9% per year over the last three years and has increased its dividend every year for the last 6 years. Macy’s has a dividend payout ratio of 44.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Macy’s to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.51 annual dividend with an expected future payout ratio of 60.4%.

Macy’s (M) opened at $25.69 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. Macy’s has a 1-year low of $17.41 and a 1-year high of $40.92. The stock has a market cap of $7,885.22, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.31 billion. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. equities analysts anticipate that Macy’s will post 3.39 earnings per share for the current year.

M has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Macy’s in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. BidaskClub lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Citigroup lowered shares of Macy’s from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $21.00 to $16.00 in a research report on Monday, October 30th. Finally, ValuEngine lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Macy’s has an average rating of “Hold” and a consensus target price of $25.41.

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Macy’s Company Profile

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

Dividend History for Macy`s (NYSE:M)

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