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Why Macy’s Stock Just Surged 20%
Macy's reported quarterly earnings per share of $0.41, surpassing estimates by $0.22, and revenue of $4.81 billion, which exceeded forecasts, driving an 18.4% stock price increase.
- On Wednesday, Macy's, Inc. shares gapped up before the New York Stock Exchange opened, rising 18.4% to open at $15.43 from a prior close of $13.49.
- Following the quarterly report, results showed Macy's, Inc. reported EPS of $0.41, beating consensus estimates of $0.19 by $0.22, with quarterly revenue at $4.81 billion exceeding the $4.69 billion consensus.
- Year-over-Year figures indicate Macy's, Inc. saw a quarterly revenue decline of 2.5% compared to the same quarter last year when EPS was $0.53.
- Macy's, Inc. set the record and payment dates for its quarterly dividend, with investors of record on Monday, September 15th receiving a $0.1824 dividend paid next month, annualizing to $0.73 and a 4.6% yield.
- Institutional investors own 87.36% of Macy's, Inc., while equities research analysts are split with one Strong Buy, nine Hold, two Sell, and a MarketBeat consensus target of $13.22.
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watchlistnews.comMacy’s (NYSE:M) Shares Gap Up on Better-Than-Expected Earnings
Macy’s, Inc. (NYSE:M – Get Free Report)’s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $13.49, but opened at $15.43. Macy’s shares last traded at $16.05, with a volume of 10,970,581 shares trading hands. The company reported $0.41 […]
Coverage Details
Total News Sources11
Leaning Left1Leaning Right0Center8Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
11%
C 89%
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