Macy’s (NYSE:M) Updates Q1 Earnings Guidance

Macy’s (NYSE:M) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.12-$0.15 for the period, compared to the consensus earnings per share estimate of $0.14. The company issued revenue guidance of $4.4-4.5 billion, compared to the consensus revenue estimate of $4.40 billion.

Macy’s Price Performance

Shares of M stock opened at $13.22 on Thursday. Macy’s has a twelve month low of $12.43 and a twelve month high of $20.70. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 22.41 and a beta of 2.07. The business’s fifty day moving average is $14.30 and its 200 day moving average is $15.24. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last announced its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Research analysts expect that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.1824 per share. The ex-dividend date was Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 5.52%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is presently 35.44%.

Analyst Ratings Changes

M has been the subject of several recent research reports. JPMorgan Chase & Co. lowered shares of Macy’s from an “overweight” rating to a “neutral” rating and cut their target price for the company from $19.00 to $14.00 in a research report on Thursday, March 6th. Gordon Haskett downgraded shares of Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. Cowen reaffirmed a “hold” rating on shares of Macy’s in a report on Friday, March 7th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Benchmark raised Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and an average target price of $15.30.

Insider Transactions at Macy’s

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the completion of the transaction, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Antony Spring sold 3,124 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $42,923.76. Following the completion of the sale, the chief executive officer now owns 272,680 shares in the company, valued at $3,746,623.20. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,751 shares of company stock valued at $537,790. 2.77% of the stock is currently owned by corporate insiders.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.