Macy’s (NYSE:M) Issues Q4 2024 Earnings Guidance

Macy’s (NYSE:M) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.400-1.650 for the period, compared to the consensus earnings per share estimate of 1.580. The company issued revenue guidance of $7.8 billion-$8.0 billion, compared to the consensus revenue estimate of $7.8 billion.

Macy’s Trading Up 2.7 %

Shares of NYSE M opened at $16.57 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s has a 12 month low of $14.06 and a 12 month high of $22.10. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 28.08 and a beta of 2.10. The business has a fifty day simple moving average of $15.79 and a 200-day simple moving average of $16.51.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. Sell-side analysts predict that Macy’s will post 2.38 EPS for the current year.

Macy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.19%. Macy’s’s dividend payout ratio is currently 116.95%.

Analyst Ratings Changes

Several equities analysts have weighed in on M shares. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. UBS Group reduced their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday. StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a report on Friday. Guggenheim restated a “neutral” rating on shares of Macy’s in a research note on Thursday. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s has an average rating of “Hold” and an average price target of $18.38.

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.