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

Macy’s (NYSE:M) updated its fourth quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.400-1.650 for the period, compared to the consensus EPS estimate of 1.570. The company issued revenue guidance of -$7.8 billion, compared to the consensus revenue estimate of $7.8 billion.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley lowered their target price on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.78.

Macy’s Trading Down 0.2 %

Shares of Macy’s stock traded down $0.03 on Friday, hitting $15.75. The stock had a trading volume of 1,453,418 shares, compared to its average volume of 7,381,007. 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 has a one year low of $13.66 and a one year high of $22.10. The stock’s 50-day simple moving average is $16.00 and its two-hundred day simple moving average is $15.80. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 26.69 and a beta of 2.07.

Macy’s (NYSE:M) last issued its quarterly earnings data 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 business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. Macy’s’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Macy’s will post 2.39 EPS for the current year.

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.