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.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Thursday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.

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.

TRADEMARK VIOLATION NOTICE: “Macy’s (NYSE:M) Issues FY19 Earnings Guidance” was originally reported by Marea Informative and is owned by of Marea Informative. If you are reading this story on another website, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this story can be read at https://www.mareainformativa.com/news/2018/12/08/macys-m-issues-fy19-earnings-guidance-updated-updated-updated.html.

About Macy’s

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.

Featured Story: Relative Strength Index

Earnings History and Estimates for Macy`s (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.