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

Macy’s (NYSE:M) issued an update on its fourth quarter earnings guidance on Monday morning. 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.

Macy’s Price Performance

M stock opened at $15.89 on Monday. The stock has a market cap of $4.41 billion, a PE ratio of 26.93 and a beta of 2.07. Macy’s has a 12 month low of $14.06 and a 12 month high of $22.10. The company has a 50-day moving average price of $16.19 and a 200 day moving average price of $16.16. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the firm earned $0.21 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts anticipate that Macy’s will post 2.4 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.1737 per share. The ex-dividend date was Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.37%. Macy’s’s dividend payout ratio (DPR) is 116.95%.

Analyst Ratings Changes

Several research firms recently commented on M. Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. 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 research 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 Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Macy’s has an average rating of “Hold” and an average target price of $17.78.

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.