Macy’s (M) to Release Quarterly Earnings on Thursday

Macy’s (NYSE:M) will likely be releasing its earnings data before the market opens on Thursday, March 6th. Analysts expect Macy’s to post earnings of $1.55 per share and revenue of $7.76 billion for the quarter. Macy’s has set its FY 2024 guidance at 2.250-2.500 EPS and its FY25 guidance at 2.25-2.50 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm posted $0.21 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. On average, analysts expect Macy’s to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Macy’s Trading Down 2.2 %

Shares of M stock opened at $14.04 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy’s has a 1 year low of $13.66 and a 1 year high of $22.10. The stock has a fifty day moving average of $15.33 and a two-hundred day moving average of $15.56. The firm has a market capitalization of $3.90 billion, a PE ratio of 23.80 and a beta of 2.05.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is 116.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on M. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. cut their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Benchmark upgraded Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Gordon Haskett lowered Macy’s from a “buy” rating to an “accumulate” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average target price of $17.14.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.