Macy’s (M) Releases FY20 Earnings Guidance

Macy’s (NYSE:M) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.05-3.25 for the period, compared to the Thomson Reuters consensus estimate of $3.08. The company issued revenue guidance of flat from $24.97 billion, compared to the consensus revenue estimate of $24.97 billion.

M opened at $21.80 on Wednesday. Macy’s has a fifty-two week low of $21.08 and a fifty-two week high of $41.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.42 and a quick ratio of 0.42. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 0.82 and a beta of 0.41.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, February 26th. The company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.08. Macy’s had a net margin of 4.43% and a return on equity of 21.32%. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.40 billion. During the same quarter in the previous year, the company earned $2.82 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Macy’s will post 3.1 EPS for the current year.

A number of analysts have recently commented on the stock. Desjardins reissued an average rating and set a $5.25 target price on shares of Macy’s in a research note on Friday, March 22nd. Standpoint Research raised shares of Macy’s from a hold rating to a buy rating in a research note on Wednesday, April 3rd. Guggenheim reissued a buy rating and set a $30.00 target price on shares of Macy’s in a research note on Tuesday, February 26th. TheStreet cut shares of Macy’s from a b- rating to a c+ rating in a research note on Tuesday, February 5th. Finally, Zacks Investment Research raised shares of Macy’s from a strong sell rating to a hold rating in a research note on Tuesday, March 12th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Macy’s presently has a consensus rating of Hold and a consensus target price of $30.22.

In other Macy’s news, Director Deirdre P. Connelly sold 6,250 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $25.76, for a total value of $161,000.00. Following the transaction, the director now directly owns 17,092 shares in the company, valued at approximately $440,289.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joyce M. Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $24.30, for a total transaction of $243,000.00. Following the completion of the transaction, the director now owns 13,647 shares in the company, valued at $331,622.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,921 shares of company stock valued at $421,238. 0.55% of the stock is owned by corporate insiders.

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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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