Macy’s (NYSE:M) Issues FY20 Earnings Guidance

Macy’s (NYSE:M) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.85-3.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.07. The company issued revenue guidance of flat at $24.97 billion, compared to the consensus revenue estimate of $24.88 billion.Macy’s also updated its FY 2019 guidance to $2.85-3.05 EPS.

Shares of Macy’s stock opened at $15.90 on Wednesday. The firm’s fifty day simple moving average is $21.49. Macy’s has a 1 year low of $18.86 and a 1 year high of $41.99. The firm has a market cap of $6.00 billion, a P/E ratio of 3.80, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55. The company has a quick ratio of 0.32, a current ratio of 1.42 and a debt-to-equity ratio of 1.19.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.17). Macy’s had a net margin of 4.43% and a return on equity of 20.66%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the business earned $0.70 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Macy’s will post 3.11 EPS for the current year.

Several equities research analysts have issued reports on M shares. Zacks Investment Research raised Macy’s from a sell rating to a hold rating in a report on Thursday, May 16th. Deutsche Bank lifted their target price on Macy’s from $27.00 to $28.00 and gave the stock a hold rating in a report on Thursday, May 16th. UBS Group set a $25.00 target price on Macy’s and gave the stock a hold rating in a report on Friday, May 17th. Finally, Goldman Sachs Group raised Macy’s from a sell rating to a neutral rating and dropped their target price for the stock from $23.00 to $21.00 in a report on Thursday, May 16th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Macy’s presently has an average rating of Hold and an average target price of $26.58.

In related news, Director Francis S. Blake purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were bought at an average price of $21.63 per share, for a total transaction of $216,300.00. Following the completion of the transaction, the director now owns 2,200 shares of the company’s stock, valued at $47,586. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paula A. Price sold 1,189 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total value of $25,325.70. The disclosure for this sale can be found here. Insiders have bought 20,000 shares of company stock valued at $432,950 in the last three months. Insiders own 0.55% of the company’s stock.

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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