Zacks: Brokerages Anticipate Macy’s Inc (NYSE:M) to Announce -$0.88 Earnings Per Share

Wall Street analysts forecast that Macy’s Inc (NYSE:M) will post earnings per share (EPS) of ($0.88) for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Macy’s’ earnings, with the highest EPS estimate coming in at ($0.78) and the lowest estimate coming in at ($1.18). Macy’s posted earnings of $0.07 per share during the same quarter last year, which would indicate a negative year over year growth rate of 1,357.1%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 19th.

According to Zacks, analysts expect that Macy’s will report full-year earnings of ($4.00) per share for the current fiscal year, with EPS estimates ranging from ($4.85) to ($3.70). For the next year, analysts expect that the business will post earnings of $0.56 per share, with EPS estimates ranging from ($0.31) to $1.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Macy’s.

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

A number of brokerages have weighed in on M. Cfra decreased their target price on shares of Macy’s from $4.00 to $3.00 and set a “sell” rating for the company in a research note on Thursday, May 21st. 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. Credit Suisse Group assumed coverage on shares of Macy’s in a report on Friday, September 4th. They set a “sell” rating and a $6.00 price target on the stock. Deutsche Bank upped their price objective on Macy’s from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Thursday, September 3rd. Finally, Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating and set a $8.00 price objective for the company in a research report on Wednesday, August 12th. Nine research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $8.73.

M stock traded up $0.11 during trading on Wednesday, reaching $6.98. The company had a trading volume of 20,677,291 shares, compared to its average volume of 30,839,551. Macy’s has a 52 week low of $4.38 and a 52 week high of $18.57. The company has a market cap of $2.17 billion, a P/E ratio of -0.59 and a beta of 1.53. The business has a 50 day moving average of $6.82 and a 200 day moving average of $6.84. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.16 and a quick ratio of 0.42.

Institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its stake in Macy’s by 91.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,644 shares of the company’s stock valued at $25,000 after buying an additional 1,740 shares during the last quarter. Psagot Investment House Ltd. bought a new stake in shares of Macy’s in the 2nd quarter valued at approximately $34,000. Cerebellum GP LLC bought a new stake in shares of Macy’s in the 2nd quarter valued at approximately $127,000. Glenmede Trust Co. NA lifted its stake in shares of Macy’s by 182.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 6,731 shares of the company’s stock valued at $46,000 after purchasing an additional 4,349 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Macy’s by 4,465.1% in the 2nd quarter. Versant Capital Management Inc now owns 6,939 shares of the company’s stock valued at $47,000 after purchasing an additional 6,787 shares during the last quarter. 83.68% of the stock is owned by institutional investors.

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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