Macy's (NYSE:M) Issues Q4 2024 Earnings Guidance

Macy's (NYSE:M - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.400-1.650 for the period, compared to the consensus estimate of 1.580. The company issued revenue guidance of $7.8 billion-$8.0 billion, compared to the consensus revenue estimate of $7.8 billion.

Macy's Stock Down 1.7 %

Macy's stock traded down $0.28 during midday trading on Thursday, hitting $16.30. 9,697,782 shares of the company's stock were exchanged, compared to its average volume of 6,397,192. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The company has a market cap of $4.52 billion, a PE ratio of 25.46 and a beta of 2.10. The firm has a 50-day moving average of $15.77 and a two-hundred day moving average of $16.53. Macy's has a 12 month low of $14.06 and a 12 month high of $22.10.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. Macy's had a net margin of 0.80% and a return on equity of 23.14%. Macy's's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 earnings per share. As a group, analysts expect that Macy's will post 2.74 earnings per share for the current fiscal year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Friday, December 13th. Macy's's payout ratio is 107.81%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on M shares. StockNews.com raised Macy's from a "hold" rating to a "buy" rating in a research report on Wednesday, November 27th. Morgan Stanley lowered 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. Guggenheim reiterated a "neutral" rating on shares of Macy's in a research note on Thursday. Argus raised shares of Macy's to a "hold" rating in a research report on Thursday, October 10th. Finally, UBS Group cut their price target on shares of Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.38.

About Macy's

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.