Macy’s (NYSE:M) Announces Earnings Results

Macy’s (NYSE:M) announced its quarterly earnings data on Wednesday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03), Zacks reports. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Macy’s updated its FY 2024 guidance to 2.250-2.500 EPS and its FY25 guidance to 2.25-2.50 EPS.

Macy’s Stock Performance

Shares of NYSE:M opened at $16.72 on Wednesday. Macy’s has a 1 year low of $14.06 and a 1 year high of $22.10. The stock’s fifty day moving average price is $15.73 and its 200-day moving average price is $16.53. The company has a market cap of $4.64 billion, a P/E ratio of 26.18 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is currently 107.81%.

Wall Street Analyst Weigh In

M has been the topic of a number of analyst reports. Morgan Stanley decreased their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.86.

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.