Macy's (NYSE:M - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.250-2.500 for the period, compared to the consensus earnings per share estimate of 2.730. The company issued revenue guidance of $22.3 billion-$22.5 billion, compared to the consensus revenue estimate of $22.1 billion. Macy's also updated its FY25 guidance to 2.25-2.50 EPS.
Macy's Stock Performance
Shares of NYSE:M traded down $0.14 during midday trading on Wednesday, reaching $16.58. The company's stock had a trading volume of 28,432,589 shares, compared to its average volume of 6,370,469. The firm has a market capitalization of $4.60 billion, a PE ratio of 23.44 and a beta of 2.11. The stock has a fifty day moving average of $15.73 and a 200 day moving average of $16.53. Macy's has a twelve month low of $14.06 and a twelve month high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.
Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy's had a return on equity of 23.14% and a net margin of 0.80%. Macy's's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. On average, equities analysts expect that Macy's will post 2.74 EPS 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. Shareholders of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Friday, December 13th. Macy's's payout ratio is presently 107.81%.
Analyst Upgrades and Downgrades
M has been the subject of several analyst reports. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research note on Wednesday, November 27th. Telsey Advisory Group reissued a "market perform" rating and set a $17.00 target price on shares of Macy's in a research note on Wednesday. Morgan Stanley cut their price target on Macy's from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, August 22nd. Finally, Argus upgraded Macy's to a "hold" rating in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Macy's has an average rating of "Hold" and a consensus price target of $19.86.
Read Our Latest Analysis on M
About Macy's
(
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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.
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