Macy’s Estimates Reduced at Citigroup (M)
Citigroup reported on Wednesday that they have reduced estimates for department store chain, Macy’s, Inc.(M).
Analysts from the firm reported that they have lowered the company’s price target to $39, and have given M a rating of “Neutral.” This price target suggests a slight increase from the stock’s current price of $38.83.
The firm has reduced its estimates for M due to a cautious outlook, and a higher level of promotions.
Macy’s shares were down 22 cents, or -0.57% during Wednesday morning trading. The stock is up 20% YTD.
Macy’s, which is known for its department stores, as well as their online store, provides consumers with a wide variety of products including: apparel, home goods, and furniture. In the latest quarter, Macy’s reported net income of $145 million with revenue of $6.08 billion.
Macy’s Dividend In Focus
Macy’s has paid out a dividend of 20 cents per share over the past three quarters , which represents a dividend yield of about 2.06%. The company, which previously paid a dividend of 10 cents per share, increased its dividend payout by 50% in 2012. Macy’s next dividend, which goes ex-dividend on Wednesday, is set to be paid on January 2 to shareholders of record on December 14. (view the Dividend.com Ex-Dividend Tool for information on all upcoming ex-dividend dates).
Recent Macy’s dividends include:
- October 1, 2012: $0.20
- July 2, 2012: $0.20
- April 2, 2012: $0.20
|Year||Dividend ($M)||Payout Ratio|
Macy’s vs. The Competition
Use the Dividend.com screener to see all dividend-paying consumer goods stocks, or run other custom searches for dividend-paying stocks.
Shares of Macy’s (M) have a 2.06% dividend yield, based on last night’s closing stock price of $38.86
Macy’s, Inc.(M) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Get FREE Dividend Tips, Updates & MoreWe respect your privacy
- Powerful dividend insights sent every weekday morning
- Gain instant access to actionable investing tips
- Strategically grow your portfolio’s profitability