Macy’s (NYSE:M) Updates FY 2026 Earnings Guidance

Macy’s (NYSE:M) issued an update on its FY 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.150-2.350 for the period, compared to the consensus earnings per share estimate of 2.110. The company issued revenue guidance of $21.7 billion-$21.8 billion, compared to the consensus revenue estimate of $21.1 billion. Macy’s also updated its Q3 2026 guidance to -0.230–0.190 EPS.

Macy’s Stock Down 4.2%

Shares of M opened at $21.51 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.44 and a current ratio of 1.48. The company has a 50-day simple moving average of $23.55 and a 200-day simple moving average of $21.44. Macy’s has a 52 week low of $16.41 and a 52 week high of $26.58. The firm has a market capitalization of $5.66 billion, a P/E ratio of 8.89 and a beta of 1.41.

Macy’s (NYSE:M) last released its earnings results on Thursday, September 10th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.26. Macy’s had a return on equity of 13.68% and a net margin of 2.94%.The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.81 billion. Macy’s has set its Q3 2026 guidance at -0.230–0.190 EPS and its FY 2026 guidance at 2.150-2.350 EPS. On average, equities research analysts expect that Macy’s will post 2.22 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.1915 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.77 dividend on an annualized basis and a yield of 3.6%. Macy’s’s payout ratio is currently 31.82%.

Analysts Set New Price Targets

M has been the subject of a number of recent research reports. TD Cowen increased their price objective on shares of Macy’s from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Evercore set a $22.00 price target on shares of Macy’s in a research report on Thursday, June 4th. JPMorgan Chase & Co. raised their price target on shares of Macy’s from $21.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. UBS Group lifted their price objective on Macy’s from $9.00 to $10.00 and gave the company a “sell” rating in a report on Wednesday, August 26th. Finally, Zacks Research raised Macy’s from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Macy’s has an average rating of “Hold” and a consensus price target of $22.78.

Insider Buying and Selling at Macy’s

In related news, EVP Thomas Edwards, Jr. sold 16,419 shares of Macy’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $24.89, for a total transaction of $408,668.91. Following the completion of the transaction, the executive vice president directly owned 20,000 shares of the company’s stock, valued at $497,800. This trade represents a 45.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paul Griscom sold 10,077 shares of Macy’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $25.63, for a total transaction of $258,273.51. Following the transaction, the senior vice president directly owned 25,373 shares of the company’s stock, valued at $650,309.99. This represents a 28.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.05% of the stock is currently owned by insiders.

Key Headlines Impacting Macy’s

Here are the key news stories impacting Macy’s this week:

• Positive Sentiment: Macy’s reported adjusted earnings of $0.63 per share, well above the $0.37 analyst consensus, while revenue of $5.06 billion exceeded expectations of $4.81 billion. The company also reported a 2.94% net margin and 13.68% return on equity. Macy’s second-quarter 2026 press release
• Positive Sentiment: The retailer raised its full-year net-sales outlook to $21.68 billion-$21.83 billion, up from its prior forecast of $21.5 billion-$21.75 billion. Macy’s also increased its comparable-sales guidance, indicating that customer demand is holding up better than previously expected. Macy’s raises full-year outlook
• Positive Sentiment: Management said growth continued across all of Macy’s nameplates, while comparable sales increased. The combination of sales momentum, an earnings beat and improved guidance reinforces the view that the company’s turnaround is beginning to take hold. CNBC report on Macy’s second-quarter results
• Neutral Sentiment: Trading activity ahead of the report was unusually bullish, with investors purchasing 16,077 call options—about 39% above average volume. This may amplify short-term volatility but does not by itself change Macy’s underlying business outlook.

Institutional Trading of Macy’s

Several hedge funds have recently modified their holdings of M. Corient Private Wealth LLC boosted its holdings in shares of Macy’s by 58.8% in the 4th quarter. Corient Private Wealth LLC now owns 305,516 shares of the company’s stock worth $6,737,000 after acquiring an additional 113,132 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Macy’s by 420.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 66,243 shares of the company’s stock valued at $1,461,000 after purchasing an additional 53,512 shares in the last quarter. Vident Advisory LLC acquired a new stake in Macy’s during the 4th quarter valued at $231,000. Delta Global Management LP bought a new position in Macy’s in the 4th quarter valued at $2,389,000. Finally, EP Wealth Advisors LLC bought a new position in Macy’s in the 4th quarter valued at $253,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.