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

Macy’s (NYSE:M) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.40-1.65 for the period, compared to the consensus 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.

Macy’s Trading Down 0.9 %

Shares of Macy’s stock opened at $15.89 on Monday. Macy’s has a twelve month low of $14.06 and a twelve month high of $22.10. The firm’s 50-day moving average price is $16.19 and its 200 day moving average price is $16.16. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $4.41 billion, a PE ratio of 26.93 and a beta of 2.07.

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

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is currently 116.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley cut their price objective 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. UBS Group decreased their target price 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. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, December 16th. Finally, Guggenheim restated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.78.

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.