Macy’s (NYSE:M) released its earnings results on Tuesday. The company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.61, MarketWatch Earnings reports. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.50 billion. Macy’s had a negative return on equity of 8.21% and a negative net margin of 19.91%. Macy’s’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 earnings per share. Macy’s updated its FY 2021
Pre-Market guidance to 0.40-0.90 EPS and its FY22 guidance to $0.40-$0.90 EPS.
Shares of Macy’s stock opened at $15.88 on Wednesday. The stock has a 50 day moving average of $14.06 and a 200 day moving average of $9.50. Macy’s has a 12 month low of $4.38 and a 12 month high of $22.30. The firm has a market cap of $4.93 billion, a PE ratio of -1.31 and a beta of 1.98. The company has a current ratio of 1.11, a quick ratio of 0.33 and a debt-to-equity ratio of 2.16.
A number of equities analysts have weighed in on M shares. Telsey Advisory Group upped their price target on shares of Macy’s from $10.00 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, February 19th. Jefferies Financial Group raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Friday, December 18th. Credit Suisse Group upped their target price on shares of Macy’s from $6.00 to $7.00 and gave the stock an “underperform” rating in a report on Friday, November 20th. OTR Global raised Macy’s to a “sell” rating in a research note on Friday, October 30th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Macy’s in a research note on Wednesday, January 20th. Eight analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.55.
Macy's, Inc, an omnichannel retail organization, operates stores, websites, and mobile applications under the Macy's, Bloomingdale's, and bluemercury brands. It sells a range of merchandise, including apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods.
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