Macy’s (NYSE:M) Updates Q1 Earnings Guidance

Macy’s (NYSE:M) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.12-$0.15 for the period, compared to the consensus EPS estimate of $0.14. The company issued revenue guidance of $4.4-4.5 billion, compared to the consensus revenue estimate of $4.40 billion.

Analysts Set New Price Targets

Several equities analysts have weighed in on M shares. New Street Research set a $13.00 price objective on Macy’s in a report on Thursday, March 6th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Morgan Stanley set a $14.00 price objective on Macy’s in a research note on Monday, March 10th. Cowen reissued a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. Finally, StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus price target of $15.30.

Macy’s Stock Performance

NYSE:M opened at $12.94 on Tuesday. The stock has a market cap of $3.59 billion, a P/E ratio of 21.79 and a beta of 2.07. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $14.36 and its two-hundred day moving average price is $15.26. Macy’s has a twelve month low of $12.48 and a twelve month high of $20.70.

Macy’s (NYSE:M) last announced its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. As a group, equities analysts predict that Macy’s will post 2.39 EPS for the current fiscal year.

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 issued a $0.1824 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Friday, March 14th. Macy’s’s dividend payout ratio is presently 35.44%.

Insider Activity at Macy’s

In other Macy’s news, CEO Antony Spring sold 3,124 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the sale, the chief executive officer now directly owns 272,680 shares in the company, valued at $3,746,623.20. This represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Adrian V. Mitchell sold 5,122 shares of Macy’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $12.77, for a total value of $65,407.94. Following the completion of the transaction, the executive vice president now owns 130,491 shares in the company, valued at approximately $1,666,370.07. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,751 shares of company stock valued at $537,790. Corporate insiders own 2.77% of the company’s stock.

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.