Macy's (NYSE:M - Get Free Report) updated its fourth quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.400-1.650 for the period, compared to the consensus EPS estimate of 1.570. The company issued revenue guidance of -$7.8 billion, compared to the consensus revenue estimate of $7.8 billion.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Gordon Haskett raised Macy's from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a report on Monday, December 16th. Guggenheim reiterated a "neutral" rating on shares of Macy's in a research note on Thursday, December 12th. Argus upgraded shares of Macy's to a "hold" rating in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of Macy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Macy's from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $17.75.
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Macy's Stock Performance
Shares of Macy's stock traded down $0.16 during trading hours on Tuesday, reaching $15.07. The company's stock had a trading volume of 2,825,304 shares, compared to its average volume of 7,346,793. Macy's has a one year low of $13.66 and a one year high of $22.10. The company's 50 day simple moving average is $15.97 and its 200 day simple moving average is $15.77. 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 stock has a market cap of $4.18 billion, a P/E ratio of 25.58 and a beta of 2.06.
Macy's (NYSE:M - Get Free Report) last issued its earnings results 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). Macy's had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the business earned $0.21 EPS. The business's revenue was down 2.4% on a year-over-year basis. As a group, analysts expect that Macy's will post 2.39 EPS for the current fiscal year.
Macy's Company Profile
(
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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.
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