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

Macy’s (NYSE:M) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.12-$0.15 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

M has been the topic of several analyst reports. Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. The Goldman Sachs Group decreased their target price on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Citigroup lowered their target price on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. New Street Research set a $13.00 price target on shares of Macy’s in a research report on Thursday, March 6th. Finally, Gordon Haskett cut shares of Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.30.

Macy’s Price Performance

Shares of Macy’s stock opened at $13.22 on Thursday. The business’s 50-day moving average price is $14.30 and its 200-day moving average price is $15.24. The firm has a market capitalization of $3.67 billion, a PE ratio of 22.41 and a beta of 2.07. Macy’s has a 12 month low of $12.43 and a 12 month high of $20.70. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Sell-side analysts forecast that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.1824 per share. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Friday, March 14th. Macy’s’s dividend payout ratio (DPR) is 35.44%.

Insider Transactions at Macy’s

In related news, EVP Adrian V. Mitchell sold 3,489 shares of Macy’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following the transaction, the executive vice president now directly owns 116,165 shares of the company’s stock, valued at $1,596,107.10. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Antony Spring sold 3,124 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the sale, the chief executive officer now directly owns 272,680 shares of the company’s stock, valued at $3,746,623.20. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,751 shares of company stock worth $537,790. Company insiders own 2.77% of the company’s stock.

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.