Macy’s (NYSE:M) Issues FY19 Earnings Guidance
Macy’s (NYSE:M) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.10-4.30 for the period, compared to the Thomson Reuters consensus estimate of $4.02. The company issued revenue guidance of +0.3-0.7% to ~$24.92-25.01 billion, compared to the consensus revenue estimate of $25.00 billion.
Shares of NYSE M traded down $0.68 during trading on Friday, reaching $31.69. 6,180,525 shares of the company traded hands, compared to its average volume of 9,528,997. Macy’s has a 52-week low of $22.47 and a 52-week high of $41.99. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97. The company has a market cap of $9.94 billion, a PE ratio of 8.41, a PEG ratio of 0.93 and a beta of 0.56.
Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.13. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business earned $0.23 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Macy’s will post 4.08 EPS for the current fiscal year.
A number of equities research analysts have commented on M shares. Zacks Investment Research cut shares of Macy’s from a buy rating to a hold rating in a research note on Thursday, August 23rd. ValuEngine lowered shares of Macy’s from a hold rating to a sell rating in a report on Tuesday, October 2nd. Deutsche Bank increased their price objective on shares of Macy’s from $35.00 to $38.00 and gave the company a hold rating in a report on Thursday, November 15th. Standpoint Research lowered shares of Macy’s from a buy rating to a hold rating in a report on Friday, August 10th. Finally, Canaccord Genuity raised shares of Macy’s from an average rating to a buy rating and set a $5.50 price objective for the company in a report on Friday, November 16th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $34.30.
In other news, President Harry A. Lawton III sold 28,684 shares of Macy’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $36.05, for a total transaction of $1,034,058.20. Following the completion of the sale, the president now directly owns 54,722 shares in the company, valued at $1,972,728.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Lenehan bought 3,154 shares of the firm’s stock in a transaction dated Friday, November 16th. The shares were acquired at an average price of $31.74 per share, with a total value of $100,107.96. Following the completion of the transaction, the director now owns 11,214 shares of the company’s stock, valued at approximately $355,932.36. The disclosure for this purchase can be found here. Insiders have sold 233,312 shares of company stock valued at $7,817,972 over the last ninety days. 2.36% of the stock is owned by insiders.
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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