Macy’s (NYSE:M) Releases FY22 Earnings Guidance

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Macy’s (NYSE:M) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.40-$0.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.74. The company issued revenue guidance of $19.75-$20.75 billion, compared to the consensus revenue estimate of $19.91 billion.Macy’s also updated its FY 2021
Pre-Market guidance to 0.40-0.90 EPS.

Several equities research analysts have recently commented on M shares. OTR Global raised shares of Macy’s to a sell rating in a research report on Friday, October 30th. HC Wainwright reiterated a buy rating on shares of Macy’s in a research report on Wednesday, January 20th. Telsey Advisory Group boosted their price objective on Macy’s from $10.00 to $14.00 and gave the company a market perform rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Macy’s from $9.00 to $15.00 and gave the company a hold rating in a report on Thursday, January 21st. Finally, Jefferies Financial Group upgraded shares of Macy’s from a hold rating to a buy rating and set a $14.00 target price on the stock in a research note on Friday, December 18th. 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 stock. The stock presently has an average rating of Hold and an average target price of $8.45.

NYSE:M opened at $15.28 on Tuesday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.33 and a current ratio of 1.11. The stock’s fifty day moving average is $13.98 and its 200 day moving average is $9.45. The firm has a market capitalization of $4.74 billion, a PE ratio of -1.26 and a beta of 1.98. Macy’s has a fifty-two week low of $4.38 and a fifty-two week high of $22.30.

Macy’s (NYSE:M) last announced its earnings results on Tuesday, February 23rd. The company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.67. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.50 billion. Macy’s had a negative net margin of 19.91% and a negative return on equity of 8.21%. The business’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Equities analysts forecast that Macy’s will post -2.9 EPS for the current year.

About Macy’s

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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Earnings History and Estimates for Macy`s (NYSE:M)

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