Macy’s (NYSE:M) Releases FY 2024 Earnings Guidance

Macy’s (NYSE:MGet Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.250-2.500 for the period, compared to the consensus estimate of 2.730. The company issued revenue guidance of $22.3 billion-$22.5 billion, compared to the consensus revenue estimate of $22.1 billion.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley reduced their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.86.

Read Our Latest Stock Analysis on Macy’s

Macy’s Stock Up 0.2 %

Shares of NYSE:M opened at $16.76 on Wednesday. Macy’s has a 12-month low of $14.06 and a 12-month high of $22.10. The stock’s 50-day moving average price is $15.73 and its two-hundred day moving average price is $16.53. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 26.18 and a beta of 2.11.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 107.81%.

About Macy’s

(Get Free Report)

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.

Further Reading

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

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