Macy’s (NYSE:M) Releases Earnings Results, Misses Expectations By $0.17 EPS
Macy’s (NYSE:M) released its earnings results on Wednesday. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.17), RTT News reports. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.55 billion. Macy’s had a net margin of 4.43% and a return on equity of 20.66%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. Macy’s updated its FY 2019 guidance to $2.85-3.05 EPS and its FY20 guidance to $2.85-3.05 EPS.
Shares of M stock opened at $16.11 on Wednesday. The firm has a market capitalization of $6.00 billion, a PE ratio of 3.85, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55. The company has a 50-day moving average of $21.49. The company has a current ratio of 1.42, a quick ratio of 0.32 and a debt-to-equity ratio of 1.19. Macy’s has a 1-year low of $18.86 and a 1-year high of $41.99.
In related news, CFO Paula A. Price sold 1,189 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total transaction of $25,325.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis S. Blake bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average cost of $21.63 per share, with a total value of $216,300.00. Following the purchase, the director now directly owns 2,200 shares of the company’s stock, valued at $47,586. The disclosure for this purchase can be found here. In the last three months, insiders bought 20,000 shares of company stock valued at $432,950. Insiders own 0.55% of the company’s stock.
Macy’s Company Profile
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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