Macy’s (NYSE:M) Releases Q4 2024 Earnings Guidance

Macy’s (NYSE:M) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.400-1.650 for the period, compared to the consensus earnings per share estimate of 1.580. The company issued revenue guidance of $7.8 billion-$8.0 billion, compared to the consensus revenue estimate of $7.8 billion.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley decreased their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research note on Wednesday. Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.38.

Macy’s Stock Performance

Shares of M opened at $16.30 on Friday. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 27.62 and a beta of 2.10. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $15.77 and its two-hundred day moving average is $16.53. Macy’s has a 52-week low of $14.06 and a 52-week high of $22.10.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Macy’s’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 earnings per share. Analysts forecast that Macy’s will post 2.38 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.26%. Macy’s’s dividend payout ratio (DPR) is 116.95%.

About Macy’s

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.