Macy's Soars on Sales, Earnings Beat


M stock was up 9% as of Wednesday morning. The company reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.11. Macy's had a net margin of 6.23% and a return on equity of 24.93%.

Macy's Inc's revenue for the first quarter of 2018 was $5.54 billion. This is better than the earnings per share of 26 cents reported in the same time past year. (NYSE:M) hit a new 52-week high and low during trading on Thursday. The company has a quick ratio of 0.45, a current ratio of 1.47 and a debt-to-equity ratio of 1.04. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 0.96 and a beta of 0.73. The sale was disclosed in a legal filing with the SEC, which is available at this link. The stock was purchased at an average cost of $29.10 per share, for a total transaction of $291,000.00. "We're getting better sell-throughs and more value for it". Apart From this, the company estimates that comparable sales were up 1.7 percent on an owned plus licensed basis. Institutional investors own 89.05% of the company's stock.

Macy's is riding high after pulling off a strong first quarter - keeping up its momentum following robust holiday sales. Prudential Financial Inc. now owns 5,013,391 shares of the company's stock worth $109,392,000 after purchasing an additional 2,153,110 shares during the last quarter.

The company said in a call discussing its quarterly results that most of the benefits of its strategic initiatives will be seen in the second half of the year. California State Teachers Retirement System now owns 599,936 shares of the company's stock valued at $15,112,000 after acquiring an additional 42,796 shares during the last quarter.

Mexico doubts that a NAFTA deal is possible by Thursday target date
Ildefonoso Guajardo told his country's Televisa network that he doesn't see a deal happening by Thursday, which the U.S. President Donald Trump on Monday and discussed the possibility of bringing NAFTA talks to a "prompt conclusion".

And this timing shift likely means second-quarter results are going to look relatively weak compared to a year earlier. American International Group Inc. now owns 23,923,612 shares of the company's stock valued at $602,636,000 after acquiring an additional 11,894,858 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Macy's by 13.6% in the 1st quarter. On an owned plus licensed basis, comparable sales were up 4.2 percent for the first quarter of 2018. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Macy's by 22.6% in the fourth quarter.

A number of equities analysts have recently commented on M shares.

Shares of Macy's opened at $29.63 on Tuesday, Marketbeat Ratings reports. In recent weeks, the company acquired the retail concept Story, an acquisition that brought with it a much-talked-about innovator in founder Rachel Shechtman, and also announced it has broadened its loyalty program beyond credit card holders and expanded its off-price Backstage business. Also, Chairman Jeffrey Gennette acquired 10,000 shares of Macy's stock in a transaction dated Thursday, April 12th. Deutsche Bank boosted their target price on shares of Macy's from $27.00 to $28.00 and gave the company a "hold" rating in a report on Monday, February 26th.

Just last week, Morgan Stanley downgraded Macy's shares, citing declining sales and profit "pressure" from online players for the ratings change. The stock presently has a consensus rating of "Hold" and a consensus target price of $26.63.