Macy’s (NYSE:M) Issues Earnings Results, Misses Estimates By $0.03 EPS

Macy’s (NYSE:M) released its quarterly earnings data on Wednesday. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03), Zacks reports. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm earned $0.21 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. Macy’s updated its FY 2024 guidance to 2.250-2.500 EPS and its FY25 guidance to 2.25-2.50 EPS.

Macy’s Price Performance

Shares of M opened at $16.72 on Wednesday. The firm has a market capitalization of $4.64 billion, a PE ratio of 26.18 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The company’s fifty day moving average price is $15.73 and its 200-day moving average price is $16.53. Macy’s has a 1-year low of $14.06 and a 1-year high of $22.10.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.16%. Macy’s’s dividend payout ratio (DPR) is currently 107.81%.

Analysts Set New Price Targets

A number of brokerages have recently commented on M. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research note on Wednesday. Morgan Stanley lowered their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.86.

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.