Macy’s (M) Expected to Announce Quarterly Earnings on Tuesday

Macy’s (NYSE:M) is projected to issue its quarterly earnings data before the market opens on Tuesday, February 25th. Analysts expect the company to announce earnings of $1.55 per share and revenue of $7.76 billion for the quarter. Macy’s has set its FY 2024 guidance at 2.250-2.500 EPS and its FY25 guidance at 2.25-2.50 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the company posted $0.21 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts expect Macy’s to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Macy’s Stock Performance

Shares of M opened at $15.00 on Friday. Macy’s has a 12 month low of $13.66 and a 12 month high of $22.10. The stock has a fifty day moving average price of $15.56 and a 200-day moving average price of $15.63. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm has a market cap of $4.16 billion, a PE ratio of 25.42 and a beta of 2.05.

Analysts Set New Price Targets

A number of brokerages recently issued reports on M. Morgan Stanley reduced their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Gordon Haskett lowered Macy’s from a “buy” rating to an “accumulate” rating in a research note on Thursday, February 13th. Finally, UBS Group reduced their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Macy’s presently has a consensus rating of “Hold” and a consensus price target of $17.75.

About Macy’s

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.