Macy’s (NYSE:M) updated its FY21 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.20-$2.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.46. The company issued revenue guidance of $23.6-$23.9 billion, compared to the consensus revenue estimate of $23.80 billion.Macy’s also updated its FY 2020
Pre-Market guidance to 2.20-2.40 EPS.
A number of equities analysts recently commented on M shares. Atlantic Securities raised Macy’s from an underweight rating to a neutral rating and set a $18.00 price target for the company in a research note on Thursday, January 9th. ValuEngine upgraded shares of Macy’s from a hold rating to a buy rating in a report on Tuesday, December 3rd. Guggenheim reissued a hold rating on shares of Macy’s in a research report on Tuesday. Bank of America restated a sell rating and issued a $12.00 price objective (down from $14.00) on shares of Macy’s in a report on Thursday, November 21st. Finally, Evercore ISI reaffirmed a buy rating and issued a $22.00 target price on shares of Macy’s in a research report on Sunday, February 9th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $16.35.
Shares of NYSE M traded down $1.01 during mid-day trading on Wednesday, hitting $13.59. 25,482,456 shares of the stock traded hands, compared to its average volume of 13,089,553. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 4.38, a PEG ratio of 0.84 and a beta of 0.66. The stock has a fifty day moving average price of $16.84 and a 200-day moving average price of $16.09. Macy’s has a 52 week low of $13.51 and a 52 week high of $26.33. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.16 and a current ratio of 1.28.
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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