Macy’s Inc. (M) Releases FY15 Earnings Guidance
Macy’s Inc. (NYSE:M) updated its FY15 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.40-4.50 for the period, compared to the Thomson Reuters consensus estimate of $4.35, Stock Ratings News reports. Macy’s also updated its FY14 guidance to $3.80-3.90 EPS.
Shares of Macy’s Inc. (NYSE:M) traded down 0.65% on Wednesday, hitting $51.84. The stock had a trading volume of 6,045,977 shares. Macy’s Inc. has a 52-week low of $36.35 and a 52-week high of $54.07. The stock has a 50-day moving average of $52. and a 200-day moving average of $47.73. The company has a market cap of $19.102 billion and a price-to-earnings ratio of 14.50.
Macy’s (NYSE:M) last announced its earnings results on Wednesday, November 13th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.08. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Macy’s Inc. will post $3.87 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Macy’s from an underperform rating to a neutral rating in a research note to investors on Monday, November 25th. They now have a $54.00 price target on the stock. On a related note, analysts at UBS AG raised their price target on shares of Macy’s from $50.00 to $55.00 in a research note to investors on Thursday, November 14th. They now have a neutral rating on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a neutral rating on shares of Macy’s in a research note to investors on Thursday, November 14th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $52.47.
In other Macy’s news, Insider Julie Greiner Weiser unloaded 18,014 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $53.72, for a total value of $967,712.08. Following the transaction, the insider now directly owns 64,272 shares in the company, valued at approximately $3,452,692. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Macy’s, Inc (NYSE:M) is a retail organization operating stores and Internet Websites under two brands (Macy’s and Bloomingdale’s) that sell a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico.
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