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

Macy's (NYSE:M - Get Free Report) is expected to be posting its quarterly earnings results 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 interested in registering for the company's earnings conference call can do so using this link.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy's had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business posted $0.21 EPS. The firm's revenue was down 2.4% on a year-over-year basis. 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 Stock Performance

M traded up $0.29 during trading on Friday, reaching $14.35. The company's stock had a trading volume of 8,689,582 shares, compared to its average volume of 6,416,940. The company's fifty day moving average price is $15.39 and its 200-day moving average price is $15.58. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 24.32 and a beta of 2.05. 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 52-week low of $13.66 and a 52-week high of $22.10.

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Macy's Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.1824 per share. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 5.08%. Macy's's payout ratio is 116.95%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on M. Morgan Stanley reduced their price target on shares of Macy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, December 12th. Telsey Advisory Group reiterated a "market perform" rating and set a $17.00 target price on shares of Macy's in a report on Thursday. JPMorgan Chase & Co. cut their price target on Macy's from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Gordon Haskett lowered Macy's from a "buy" rating to an "accumulate" rating in a research note on Thursday, February 13th. Finally, Guggenheim reissued a "neutral" rating on shares of Macy's in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $17.14.

Macy's Company Profile

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.