Macy's (NYSE:M) Releases Q4 Earnings Guidance

Macy's (NYSE:M - Get Free Report) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.40-1.65 for the period, compared to the consensus estimate of $1.57. The company issued revenue guidance of at or slightly below $7.8-8.0 billion, compared to the consensus revenue estimate of $7.83 billion.

Macy's Price Performance

M traded down $1.27 on Monday, hitting $14.57. 13,046,457 shares of the company were exchanged, compared to its average volume of 7,736,509. The business's fifty day moving average is $16.19 and its 200 day moving average is $16.16. Macy's has a fifty-two week low of $14.06 and a fifty-two week high of $22.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The firm has a market capitalization of $4.05 billion, a P/E ratio of 24.69 and a beta of 2.07.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.74 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Macy's's quarterly revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Macy's will post 2.4 EPS for the current year.

Macy's Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Friday, December 13th. Macy's's dividend payout ratio is currently 116.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on M shares. Morgan Stanley decreased their target price on Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Thursday, December 12th. Guggenheim reaffirmed a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. UBS Group reduced their target price on shares of Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a research report on Thursday, December 12th. Telsey Advisory Group reissued a "market perform" rating and issued a $17.00 price objective on shares of Macy's in a research report on Wednesday, December 11th. Finally, StockNews.com downgraded Macy's from a "buy" rating to a "hold" rating in a research note on Thursday, December 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Macy's presently has an average rating of "Hold" and an average price target of $17.78.

Macy's Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.