Macy’s (NYSE:M) Updates FY21 Earnings Guidance

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 (NYSE:M) last released its earnings results on Tuesday, February 25th. The company reported $2.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.16. Macy’s had a net margin of 3.91% and a return on equity of 17.44%. The firm had revenue of $8.34 billion for the quarter, compared to the consensus estimate of $8.32 billion. During the same period in the prior year, the firm earned $2.73 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Macy’s will post 2.73 EPS for the current fiscal year.

About Macy’s

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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Earnings History and Estimates for Macy`s (NYSE:M)

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