Macy’s (M) to Release Quarterly Earnings on Thursday

Macy’s (NYSE:M) is expected to be announcing its earnings results before the market opens on Thursday, March 6th. Analysts expect the company to announce earnings of $1.55 per share and revenue of $7.76 billion for the quarter. Macy’s has set its FY 2024 guidance at 2.250-2.500 EPS and its FY25 guidance at 2.25-2.50 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 EPS. On average, analysts expect Macy’s to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Macy’s Trading Down 2.2 %

M opened at $14.04 on Tuesday. The firm has a market capitalization of $3.90 billion, a P/E ratio of 23.80 and a beta of 2.05. The firm’s 50 day moving average is $15.33 and its 200-day moving average is $15.56. Macy’s has a 52-week low of $13.66 and a 52-week high of $22.10. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.1824 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.20%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is currently 116.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on M. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group dropped their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. dropped their price target 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. 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 note on Thursday, December 12th. Finally, Gordon Haskett lowered shares of Macy’s from a “buy” rating to an “accumulate” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Macy’s presently has a consensus rating of “Hold” and a consensus price target of $17.14.

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.