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

Macy’s (NYSE:M) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $1.40-1.65 for the period, compared to the consensus EPS estimate of $1.57. The company issued revenue guidance of at or slightly below $7.8-8.0 billion, compared to the consensus revenue estimate of $7.83 billion.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on M. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. UBS Group reduced their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. Morgan Stanley reduced their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.78.

Macy’s Stock Performance

Shares of M opened at $14.57 on Tuesday. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 24.69 and a beta of 2.07. 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 52-week low of $14.06 and a 52-week high of $22.10. The stock has a 50 day moving average price of $16.18 and a 200 day moving average price of $16.13.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the company earned $0.21 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts predict that Macy’s will post 2.4 EPS for the current fiscal year.

Macy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a dividend of $0.1737 per share. The ex-dividend date was Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.77%. Macy’s’s payout ratio is currently 116.95%.

About Macy’s

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.