Macy’s (NYSE:M) Releases 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 guidance of $1.40-1.65 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

M has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. UBS Group dropped their target price on 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 lowered their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.78.

Macy’s Trading Down 3.6 %

Shares of M stock opened at $14.04 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The stock has a fifty day simple moving average of $16.18 and a two-hundred day simple moving average of $16.13. The firm has a market capitalization of $3.90 billion, a PE ratio of 23.80 and a beta of 2.07. Macy’s has a 52-week low of $14.01 and a 52-week high of $22.10.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share 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 the consensus estimate of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, analysts predict that Macy’s will post 2.4 EPS for the current fiscal year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Friday, December 13th. Macy’s’s payout ratio is currently 116.95%.

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.