Macy’s (NYSE:M) Updates Q4 2024 Earnings Guidance

Macy’s (NYSE:M) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.400-1.650 for the period, compared to the consensus estimate of 1.570. The company issued revenue guidance of -$7.8 billion, compared to the consensus revenue estimate of $7.8 billion.

Analysts Set New Price Targets

Several research firms have issued reports on M. UBS Group cut their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley dropped their price target on shares of 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. Finally, StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Macy’s currently has an average rating of “Hold” and a consensus target price of $17.78.

Macy’s Stock Performance

NYSE M opened at $15.76 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock has a market capitalization of $4.37 billion, a PE ratio of 26.70 and a beta of 2.07. Macy’s has a 1-year low of $13.66 and a 1-year high of $22.10. The business has a 50 day simple moving average of $16.00 and a two-hundred day simple moving average of $15.80.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 0.73% and a return on equity of 21.99%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. On average, research analysts predict that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Company Profile

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.