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

Macy’s (NYSE:M) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.400-1.650 for the period, compared to the consensus estimate of 1.580. The company issued revenue guidance of $7.8 billion-$8.0 billion, compared to the consensus revenue estimate of $7.8 billion.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday. StockNews.com lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Friday. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research note on Wednesday. Finally, Argus raised shares of 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, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Macy’s has a consensus rating of “Hold” and an average price target of $18.38.

Macy’s Stock Up 2.7 %

Macy’s stock opened at $16.57 on Friday. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 28.08 and a beta of 2.10. The company’s 50 day simple moving average is $15.79 and its 200 day simple moving average is $16.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. Macy’s has a fifty-two week low of $14.06 and a fifty-two week high of $22.10.

Macy’s (NYSE:M) last announced its quarterly earnings results 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 return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Macy’s will post 2.38 EPS for the current year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.19%. Macy’s’s payout ratio is 116.95%.

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.