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

Macy’s (NYSE:M) updated its fourth quarter earnings guidance on Monday. 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.

Wall Street Analyst Weigh In

M has been the subject of several recent research reports. StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. JPMorgan Chase & Co. reduced their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Morgan Stanley reduced 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. Finally, Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.78.

Macy’s Price Performance

Shares of NYSE M opened at $14.57 on Tuesday. 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 1-year low of $14.06 and a 1-year high of $22.10. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 24.69 and a beta of 2.07. The business has a 50-day moving average of $16.18 and a 200-day moving average of $16.13.

Macy’s (NYSE:M) last released 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 company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Macy’s will post 2.4 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.1737 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.77%. Macy’s’s dividend payout ratio is currently 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.