Macy's (M) Updates FY18 Earnings Guidance
Macy's (NYSE:M) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $3.59-3.69 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.44. The company issued revenue guidance of $24.77-24.85 billion, compared to the consensus revenue estimate of $24.70 billion.
A number of equities analysts have recently commented on the stock. BMO Capital Markets set a $38.00 price target on shares of Macy's and gave the stock a buy rating in a report on Friday. Cowen reissued a hold rating and issued a $23.00 price target on shares of Macy's in a report on Thursday, September 28th. OTR Global raised shares of Macy's to a sell rating in a report on Monday, December 18th. ValuEngine lowered shares of Macy's from a buy rating to a hold rating in a report on Sunday, December 31st. Finally, Telsey Advisory Group increased their price target on shares of Macy's from $25.00 to $28.00 and gave the stock a market perform rating in a report on Thursday, December 28th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Macy's has a consensus rating of Hold and an average target price of $25.91.
Macy's (NYSE:M) opened at $24.48 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. Macy's has a twelve month low of $17.41 and a twelve month high of $34.37. The company has a market cap of $7,460.00, a price-to-earnings ratio of 10.78, a P/E/G ratio of 0.83 and a beta of 0.97.
Macy's (NYSE:M) last released its earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. Macy's had a net margin of 2.83% and a return on equity of 21.20%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. research analysts forecast that Macy's will post 3.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were given a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.51 annualized dividend and a yield of 6.17%. Macy's’s payout ratio is currently 66.52%.
Macy's Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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