Macy’s (NYSE:M) Issues FY25 Earnings Guidance

Macy’s (NYSE:M) issued an update on its FY25 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.55-2.90 for the period, compared to the consensus EPS estimate of $2.65. The company issued revenue guidance of $22.3-22.9 billion, compared to the consensus revenue estimate of $22.48 billion. Macy’s also updated its FY 2024 guidance to 2.550-2.900 EPS.

Macy’s Price Performance

Shares of M opened at $20.08 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10. The stock has a market cap of $5.53 billion, a P/E ratio of 54.27 and a beta of 2.16. The stock’s 50-day moving average price is $19.52 and its two-hundred day moving average price is $18.48.

Macy’s (NYSE:M) last announced its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter last year, the firm earned $1.88 EPS. Macy’s’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities analysts predict that Macy’s will post 2.54 earnings per share for the current year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, June 14th. Macy’s’s payout ratio is presently 186.49%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on M shares. Citigroup upgraded Macy’s from a sell rating to a neutral rating and upped their target price for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. TD Cowen downgraded Macy’s from an outperform rating to a market perform rating and cut their target price for the company from $23.00 to $20.00 in a research report on Thursday, February 29th. StockNews.com started coverage on Macy’s in a research report on Saturday. They set a hold rating for the company. JPMorgan Chase & Co. upped their target price on Macy’s from $23.00 to $25.00 and gave the company an overweight rating in a research report on Monday, March 18th. Finally, Telsey Advisory Group reiterated a market perform rating and set a $21.00 target price on shares of Macy’s in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $17.45.

Insiders Place Their Bets

In other Macy’s news, EVP Danielle L. Kirgan sold 15,070 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $307,729.40. Following the transaction, the executive vice president now owns 306,555 shares in the company, valued at $6,259,853.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Adrian V. Mitchell sold 13,249 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $270,544.58. Following the transaction, the chief financial officer now owns 99,098 shares in the company, valued at $2,023,581.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Danielle L. Kirgan sold 15,070 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $307,729.40. Following the completion of the transaction, the executive vice president now owns 306,555 shares in the company, valued at approximately $6,259,853.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,424 shares of company stock worth $4,405,507. Corporate insiders own 2.77% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.