Macy’s (NYSE:M) Releases FY20 Earnings Guidance

Macy’s (NYSE:M) updated its FY20 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.85-3.05 for the period, compared to the Thomson Reuters consensus estimate of $3.07. The company issued revenue guidance of flat at $24.97 billion, compared to the consensus revenue estimate of $24.88 billion.Macy’s also updated its FY 2019 guidance to $2.85-3.05 EPS.

Several research firms recently issued reports on M. Zacks Investment Research upgraded shares of Macy’s from a sell rating to a hold rating in a research report 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 report on Friday, May 17th. Goldman Sachs Group upgraded shares of Macy’s from a sell rating to a neutral rating and cut their price objective for the stock from $23.00 to $21.00 in a research report on Thursday, May 16th. Finally, Deutsche Bank raised their price objective on shares of Macy’s from $27.00 to $28.00 and gave the stock a hold rating in a research report on Thursday, May 16th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $26.58.

Shares of M stock opened at $16.11 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.32 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 3.85, a PEG ratio of 0.83 and a beta of 0.55. The stock’s 50-day moving average is $21.49. Macy’s has a 1-year low of $18.86 and a 1-year high of $41.99.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 14th. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.17). The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.55 billion. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. As a group, sell-side analysts anticipate that Macy’s will post 3.11 EPS for the current fiscal year.

In other news, CFO Paula A. Price sold 1,189 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $21.30, for a total value of $25,325.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jeffrey Gennette acquired 5,000 shares of the stock in a transaction dated Friday, May 17th. The stock was acquired at an average cost of $21.96 per share, with a total value of $109,800.00. Following the purchase, the chairman now owns 102,525 shares of the company’s stock, valued at approximately $2,251,449. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 20,000 shares of company stock valued at $432,950. 0.55% of the stock is currently owned by 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.

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

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