Macy’s (NYSE:M) Releases FY 2019 Earnings Guidance

Macy’s (NYSE:M) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.85-3.05 for the period, compared to the Thomson Reuters consensus estimate of $3.07.

M stock opened at $19.36 on Wednesday. The firm’s 50-day moving average price is $21.49. Macy’s has a 12-month low of $18.86 and a 12-month high of $41.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.32 and a current ratio of 1.42. The stock has a market capitalization of $6.00 billion, a P/E ratio of 4.63, a PEG ratio of 0.83 and a beta of 0.55.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.11. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts predict that Macy’s will post 3.11 earnings per share for the current fiscal year.

M has been the subject of a number of research reports. UBS Group set a $25.00 price target on Macy’s and gave the company a hold rating in a research report on Friday, May 17th. Deutsche Bank upped their target price on Macy’s from $27.00 to $28.00 and gave the stock a hold rating in a research report on Thursday, May 16th. Goldman Sachs Group raised Macy’s from a sell rating to a neutral rating and decreased their target price for the stock from $23.00 to $21.00 in a research report on Thursday, May 16th. Finally, Zacks Investment Research raised Macy’s from a sell rating to a hold rating in a research report on Thursday, May 16th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Macy’s currently has an average rating of Hold and an average price target of $26.58.

In other Macy’s news, Chairman Jeffrey Gennette purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $21.96 per share, for a total transaction of $109,800.00. Following the completion of the purchase, the chairman now owns 102,525 shares in the company, valued at approximately $2,251,449. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Paula A. Price sold 1,189 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total value of $25,325.70. The disclosure for this sale can be found here. Insiders bought 20,000 shares of company stock valued at $432,950 in the last ninety days. Company insiders own 0.55% of the company’s stock.

About Macy’s

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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Earnings History and Estimates for Macy`s (NYSE:M)

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