Macy's (NYSE:M) Updates Q1 Earnings Guidance

Macy's (NYSE:M - Get Free Report) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.12-$0.15 for the period, compared to the consensus earnings per share estimate of $0.14. The company issued revenue guidance of $4.4-4.5 billion, compared to the consensus revenue estimate of $4.40 billion.

Analysts Set New Price Targets

A number of brokerages have commented on M. Telsey Advisory Group reissued a "market perform" rating and set a $15.00 target price on shares of Macy's in a report on Wednesday. JPMorgan Chase & Co. lowered Macy's from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $19.00 to $14.00 in a report on Thursday, March 6th. StockNews.com raised shares of Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Benchmark raised shares of Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $15.30.

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Macy's Stock Down 13.3 %

Shares of M traded down $1.76 during midday trading on Thursday, hitting $11.44. The company had a trading volume of 15,161,221 shares, compared to its average volume of 6,098,754. Macy's has a 1 year low of $11.04 and a 1 year high of $20.70. The firm has a market capitalization of $3.17 billion, a P/E ratio of 19.38 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The company's 50-day simple moving average is $14.30 and its 200-day simple moving average is $15.24.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. As a group, sell-side analysts expect that Macy's will post 2.39 EPS for the current year.

Macy's Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 6.38%. This is an increase from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. Macy's's payout ratio is 35.44%.

Insider Activity

In related news, EVP Adrian V. Mitchell sold 3,489 shares of Macy's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares in the company, valued at $1,596,107.10. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares of the company's stock, valued at $59,887.64. This represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,751 shares of company stock worth $537,790. 2.77% of the stock is currently owned by insiders.

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.