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 (EPS) guidance of $1.40-1.65 for the period, compared to the consensus 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 Stock Performance

Macy’s stock opened at $14.04 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The company has a market capitalization of $3.90 billion, a PE ratio of 23.80 and a beta of 2.07. The company has a 50 day moving average price of $16.18 and a 200-day moving average price of $16.13. Macy’s has a fifty-two week low of $14.01 and a fifty-two week high of $22.10.

Macy’s (NYSE:M) last issued its 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 net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts forecast 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. Shareholders of record on Friday, December 13th were issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.95%. The ex-dividend date was Friday, December 13th. Macy’s’s payout ratio is 116.95%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group reduced their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. lowered their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, December 16th. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Macy’s has a consensus rating of “Hold” and a consensus price target 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.