Macy’s (NYSE:M) Updates FY 2021 Pre-Market Earnings Guidance

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Macy’s (NYSE:M) issued an update on its FY 2021
Pre-Market earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.40-0.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.76. The company issued revenue guidance of $19.75-20.75 billion, compared to the consensus revenue estimate of $20.13 billion.Macy’s also updated its FY22 guidance to $0.40-$0.90 EPS.

A number of equities research analysts have issued reports on the company. Telsey Advisory Group raised their target price on Macy’s from $10.00 to $14.00 and gave the company a market perform rating in a research note on Friday. HC Wainwright reissued a buy rating on shares of Macy’s in a research note on Wednesday, January 20th. OTR Global raised Macy’s to a sell rating in a research note on Friday, October 30th. Credit Suisse Group lifted their price objective on shares of Macy’s from $6.00 to $7.00 and gave the company an underperform rating in a research note on Friday, November 20th. Finally, Jefferies Financial Group raised shares of Macy’s from a hold rating to a buy rating and set a $14.00 target price on the stock in a research note on Friday, December 18th. Eight research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Macy’s presently has a consensus rating of Hold and a consensus target price of $8.45.

NYSE M opened at $15.28 on Tuesday. The firm’s 50 day moving average price is $13.98 and its two-hundred day moving average price is $9.45. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.33 and a current ratio of 1.11. Macy’s has a twelve month low of $4.38 and a twelve month high of $22.30. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of -1.26 and a beta of 1.98.

Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, February 23rd. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.67. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.50 billion. Macy’s had a negative return on equity of 8.21% and a negative net margin of 19.91%. Macy’s’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 earnings per share. On average, research analysts forecast that Macy’s will post -2.9 EPS for the current fiscal year.

About Macy’s

Macy's, Inc, an omnichannel retail organization, operates stores, websites, and mobile applications under the Macy's, Bloomingdale's, and bluemercury brands. It sells a range of merchandise, including apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods.

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

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