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

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

Several brokerages have weighed in on M. Zacks Investment Research upgraded Macy’s from a sell rating to a hold rating in a research note on Thursday, May 16th. Goldman Sachs Group upgraded Macy’s from a sell rating to a neutral rating and lowered their target price for the company from $23.00 to $21.00 in a research note on Thursday, May 16th. UBS Group set a $25.00 target price on Macy’s and gave the company a hold rating in a research note on Friday, May 17th. Finally, Deutsche Bank lifted their target price on Macy’s from $27.00 to $28.00 and gave the company a hold rating in a research note on Thursday, May 16th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Macy’s currently has a consensus rating of Hold and a consensus target price of $26.58.

Macy’s stock opened at $19.36 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.32 and a current ratio of 1.42. Macy’s has a 1-year low of $18.86 and a 1-year high of $41.99. 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. The company has a 50 day simple moving average of $21.49.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share 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 for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts expect that Macy’s will post 3.11 EPS for the current fiscal year.

In other news, Director Francis S. Blake acquired 10,000 shares of Macy’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was purchased at an average cost of $21.63 per share, with a total value of $216,300.00. Following the completion of the acquisition, the director now owns 2,200 shares in the company, valued at approximately $47,586. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paula A. Price sold 1,189 shares of Macy’s stock in a transaction on 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. Over the last 90 days, insiders purchased 20,000 shares of company stock worth $432,950. Company 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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