Macy’s (NYSE:M) Updates Q3 2026 Earnings Guidance

Macy’s (NYSE:M) updated its third quarter 2026 earnings guidance on Thursday. The company provided EPS guidance of -0.230–0.190 for the period, compared to the consensus earnings per share estimate of -0.120. The company issued revenue guidance of $4.7 billion-$4.7 billion, compared to the consensus revenue estimate of $4.7 billion. Macy’s also updated its FY 2026 guidance to 2.150-2.350 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on M shares. Wall Street Zen downgraded Macy’s from a “buy” rating to a “hold” rating in a research note on Saturday. TD Cowen increased their target price on Macy’s from $20.00 to $25.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Weiss Ratings downgraded Macy’s from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Telsey Advisory Group upped their price target on shares of Macy’s from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Thursday, June 4th. Finally, UBS Group increased their price objective on shares of Macy’s from $9.00 to $10.00 and gave the stock a “sell” rating in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.78.

Macy’s Trading Up 7.5%

Shares of Macy’s stock opened at $22.03 on Friday. Macy’s has a fifty-two week low of $16.41 and a fifty-two week high of $26.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 1.59. The company has a market capitalization of $5.79 billion, a P/E ratio of 8.07 and a beta of 1.41. The company has a fifty day moving average of $23.47 and a 200 day moving average of $21.43.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, September 10th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.26. Macy’s had a return on equity of 13.21% and a net margin of 3.29%.The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period last year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. 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, sell-side analysts anticipate that Macy’s will post 2.29 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Macy’s’s dividend payout ratio (DPR) is 31.82%.

Insider Activity at Macy’s

In other news, SVP Paul Griscom sold 10,077 shares of Macy’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $25.63, for a total transaction of $258,273.51. Following the sale, the senior vice president owned 25,373 shares in the company, valued at $650,309.99. This trade represents a 28.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas Edwards, Jr. sold 16,419 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was 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 in the company, valued at $497,800. This trade represents a 45.08% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.05% of the company’s stock.

Macy’s News Roundup

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

• Positive Sentiment: Macy’s exceeded analysts’ expectations for second-quarter earnings and revenue. Reported adjusted EPS was approximately $0.40 versus the $0.37 consensus, while revenue rose 1.1% year over year to roughly $4.9 billion. The company also reported growth across its major nameplates. Macy’s Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: The retailer raised its fiscal 2026 outlook, projecting EPS of $2.15-$2.35 versus a $2.11 consensus and revenue of approximately $21.7-$21.8 billion, above the $21.1 billion consensus. Its sales outlook was supported by higher comparable sales expectations and continued demand from middle- and higher-income customers. Macy’s Posts Strong Results and Raises Guidance
• Positive Sentiment: Management said premium merchandise and tariff refunds helped results. The improving sales trend and a roughly 3.5% dividend yield may appeal to income-focused investors if the turnaround continues and cash generation remains solid. Premium Goods Drive Sales Growth
• Neutral Sentiment: BTIG Research reaffirmed its “neutral” rating, indicating that the earnings improvement and valuation are balanced by execution risks in the ongoing turnaround. BTIG Research Rating
• Negative Sentiment: Despite the beat and guidance increase, investors initially focused on Macy’s projected third-quarter adjusted loss of $0.19-$0.23 per share, which is wider than the $0.12 consensus loss. Softer near-term comparable-sales expectations and broader market weakness also pressured sentiment. Macy’s Stock and Fiscal 2026 Outlook

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in M. Smartleaf Asset Management LLC increased its holdings in shares of Macy’s by 51.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after purchasing an additional 526 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Macy’s by 35.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock worth $41,000 after buying an additional 486 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Macy’s during the fourth quarter valued at approximately $54,000. Northwestern Mutual Wealth Management Co. boosted its stake in Macy’s by 31.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,528 shares of the company’s stock valued at $78,000 after buying an additional 851 shares during the last quarter. Finally, Vestcor Inc purchased a new position in Macy’s during the 3rd quarter valued at approximately $118,000. Institutional investors own 87.36% of the company’s stock.

About Macy’s

Macy’s, Inc is an American omnichannel retailer that sells a broad range of merchandise through department stores, specialty stores and digital platforms. Its product offerings include apparel, accessories, beauty products, home furnishings, jewelry, furniture and other consumer goods.

The company operates through several well-known retail banners, including Macy’s, Bloomingdale’s and Bluemercury. Macy’s serves customers primarily in the United States through its stores and e-commerce websites, while Bloomingdale’s offers fashion, accessories, beauty and home merchandise through department stores, outlets and digital channels.