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

Share on StockTwits

Macy’s (NYSE:M) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.85-3.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.07. Macy’s also updated its FY20 guidance to $2.85-3.05 EPS.

Shares of M stock opened at $16.11 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 1.42 and a debt-to-equity ratio of 1.19. Macy’s has a 1 year low of $18.86 and a 1 year high of $41.99. The company has a fifty day simple moving average of $21.49. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 3.85, a P/E/G ratio of 0.83 and a beta of 0.55.

Macy’s (NYSE:M) last released its quarterly earnings data 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 firm had revenue of $5.55 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $0.70 earnings per share. Equities analysts expect that Macy’s will post 3.11 earnings per share for the current fiscal year.

Several research firms have recently weighed in on M. Zacks Investment Research upgraded shares of Macy’s from a sell rating to a hold rating 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. Goldman Sachs Group upgraded shares of Macy’s from a sell rating to a neutral rating and lowered their price objective for the stock from $23.00 to $21.00 in a research note on Thursday, May 16th. Finally, Deutsche Bank boosted their price objective on shares of Macy’s from $27.00 to $28.00 and gave the stock a hold rating in a research note on Thursday, May 16th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $26.58.

In related news, Director Francis S. Blake purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $21.63 per share, for a total transaction of $216,300.00. Following the purchase, the director now owns 2,200 shares in the company, valued at $47,586. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jeffrey Gennette purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average price of $21.96 per share, for a total transaction of $109,800.00. Following the purchase, the chairman now owns 102,525 shares in the company, valued at approximately $2,251,449. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 20,000 shares of company stock worth $432,950. 0.55% of the stock is owned by company insiders.

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.

See Also: Cash Flow Analysis in Stock Selection

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

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.