Macy’s (NYSE:M) Releases FY20 Earnings Guidance

Macy’s (NYSE:M) updated its FY20 earnings guidance on Wednesday. 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. The company issued revenue guidance of flat at $24.97 billion, compared to the consensus revenue estimate of $24.88 billion.Macy’s also updated its FY 2019 guidance to $2.85-3.05 EPS.

Several research firms recently commented on M. Goldman Sachs Group upgraded shares of Macy’s from a sell rating to a neutral rating and reduced their price objective for the stock from $23.00 to $21.00 in a research note on Thursday, May 16th. UBS Group set a $25.00 price objective on shares of Macy’s and gave the stock a hold rating in a research note on Friday, May 17th. Deutsche Bank boosted their target price on shares of Macy’s from $27.00 to $28.00 and gave the stock a hold rating in a research report on Thursday, May 16th. Finally, Zacks Investment Research raised shares of 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 assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $26.58.

NYSE:M opened at $16.11 on Wednesday. The stock has a market cap of $6.00 billion, a P/E ratio of 3.85, a PEG ratio of 0.83 and a beta of 0.55. Macy’s has a twelve month low of $18.86 and a twelve 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’s 50 day moving average is $21.49.

Macy’s (NYSE:M) last released its earnings results on Wednesday, August 14th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.17). The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.55 billion. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. As a group, research analysts anticipate that Macy’s will post 3.11 earnings per share for the current fiscal year.

In other Macy’s news, Director Francis S. Blake acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $21.63 per share, with a total value of $216,300.00. Following the acquisition, the director now directly owns 2,200 shares of the company’s stock, valued at $47,586. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Jeffrey Gennette acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was acquired at an average cost of $21.96 per share, for a total transaction of $109,800.00. Following the completion of the acquisition, the chairman now directly owns 102,525 shares in the company, valued at $2,251,449. The disclosure for this purchase can be found here. Insiders bought a total of 20,000 shares of company stock worth $432,950 over the last ninety days. Insiders own 0.55% of the company’s stock.

Macy’s Company Profile

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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