$3.84 Billion in Sales Expected for Macy’s Inc (NYSE:M) This Quarter

Equities research analysts expect Macy’s Inc (NYSE:M) to report $3.84 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Macy’s’ earnings, with the highest sales estimate coming in at $3.89 billion and the lowest estimate coming in at $3.77 billion. Macy’s reported sales of $5.17 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 25.7%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 19th.

On average, analysts expect that Macy’s will report full year sales of $16.68 billion for the current year, with estimates ranging from $16.43 billion to $16.98 billion. For the next year, analysts forecast that the firm will report sales of $20.75 billion, with estimates ranging from $19.76 billion to $21.43 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Macy’s.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($1.77) by $0.96. Macy’s had a negative return on equity of 4.56% and a negative net margin of 18.27%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The business’s revenue for the quarter was down 35.8% on a year-over-year basis.

M has been the subject of several research reports. Credit Suisse Group began coverage on shares of Macy’s in a research note on Friday, September 4th. They issued a “sell” rating and a $6.00 price objective on the stock. Morgan Stanley cut their price target on shares of Macy’s from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Monday, July 6th. Bank of America reiterated an “underperform” rating and set a $4.50 price objective (down from $5.00) on shares of Macy’s in a research note on Friday, May 22nd. Zacks Investment Research raised shares of Macy’s from a “sell” rating to a “hold” rating and set a $8.00 target price on the stock in a research note on Wednesday, August 12th. Finally, UBS Group cut shares of Macy’s from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $6.00 to $3.00 in a research report on Wednesday, July 22nd. Nine equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.73.

Several institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in Macy’s by 22.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 769,281 shares of the company’s stock worth $5,292,000 after acquiring an additional 142,796 shares during the period. Principal Financial Group Inc. raised its stake in Macy’s by 419.6% during the second quarter. Principal Financial Group Inc. now owns 2,363,628 shares of the company’s stock worth $16,262,000 after acquiring an additional 1,908,743 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Macy’s by 38.0% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 46,096 shares of the company’s stock worth $317,000 after acquiring an additional 12,700 shares during the period. Handelsbanken Fonder AB acquired a new stake in Macy’s during the second quarter worth about $347,000. Finally, Nuveen Asset Management LLC raised its stake in Macy’s by 62.4% during the second quarter. Nuveen Asset Management LLC now owns 1,932,023 shares of the company’s stock worth $13,293,000 after acquiring an additional 742,463 shares during the period. Institutional investors and hedge funds own 83.68% of the company’s stock.

Shares of M traded up $0.11 during mid-day trading on Friday, reaching $6.98. 20,677,291 shares of the company’s stock were exchanged, compared to its average volume of 30,839,551. The business’s fifty day simple moving average is $6.82 and its 200-day simple moving average is $6.84. The stock has a market capitalization of $2.17 billion, a PE ratio of -0.59 and a beta of 1.53. Macy’s has a 52-week low of $4.38 and a 52-week high of $18.57. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.16 and a quick ratio of 0.42.

Macy’s Company Profile

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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