Macy’s (M) to Release Quarterly Earnings on Thursday

Macy’s (NYSE:M) is expected to be issuing its quarterly earnings data before the market opens on Thursday, March 6th. Analysts expect the company to announce earnings of $1.55 per share and revenue of $7.76 billion for the quarter. Macy’s has set its FY 2024 guidance at 2.250-2.500 EPS and its FY25 guidance at 2.25-2.50 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. On average, analysts expect Macy’s to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Macy’s Stock Performance

Shares of M opened at $13.38 on Wednesday. The company has a market cap of $3.71 billion, a PE ratio of 22.67 and a beta of 2.05. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $15.26 and a 200-day moving average price of $15.53. Macy’s has a 12-month low of $13.23 and a 12-month high of $22.10.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Friday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is 116.95%.

Wall Street Analysts Forecast Growth

M has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley dropped their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Gordon Haskett downgraded Macy’s from a “buy” rating to an “accumulate” rating in a research report on Thursday, February 13th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.14.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.