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

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group cut their target price 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. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, December 16th. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.78.

Macy’s Stock Performance

Shares of M stock opened at $15.55 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The company has a market capitalization of $4.32 billion, a P/E ratio of 26.36 and a beta of 2.07. The company’s 50 day moving average price is $15.99 and its two-hundred day moving average price is $15.79. Macy’s has a 52 week low of $13.66 and a 52 week high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Macy’s’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 earnings per share. On average, analysts expect that Macy’s will post 2.39 earnings per share for the current fiscal 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.