Macy’s, Inc. (NYSE:M – Get Free Report) announced a quarterly dividend on Friday, October 25th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 4.51%.
Macy’s has raised its dividend payment by an average of 20.6% per year 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 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 Macy’s stock opened at $15.39 on Friday. The company’s fifty day simple moving average is $15.45 and its two-hundred day simple moving average is $17.33. Macy’s has a 12-month low of $10.59 and a 12-month high of $22.10. 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 company has a market cap of $4.27 billion, a P/E ratio of 24.05 and a beta of 2.11.
Wall Street Analysts Forecast Growth
M has been the topic of several recent research reports. Evercore ISI reduced their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. StockNews.com began coverage on shares of Macy’s in a research note on Friday. They set a “hold” rating on the stock. Morgan Stanley decreased their target price 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. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.43.
Get Our Latest Research Report on M
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.
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