Brokers Issue Forecasts for Macy's' FY2027 Earnings (NYSE:M)

Key Points

• Zacks Research raised Macy’s FY2027 EPS forecast to $2.34 from $2.13, while maintaining a “Hold” rating. Analysts also project EPS of $2.47 in FY2028 and $2.57 in FY2029.
• Analyst sentiment remains mixed but generally cautious: Macy’s has an average “Hold” rating and a consensus price target of $22.78, with two Buy, nine Hold and two Sell ratings.
• Macy’s recently exceeded quarterly expectations, reporting $0.63 EPS and $5.06 billion in revenue, while maintaining FY2026 EPS guidance of $2.15–$2.35. The company also declared a quarterly dividend of $0.1915, equivalent to a 3.4% annual yield.

Macy's, Inc. (NYSE:M - Free Report) - Investment analysts at Zacks Research boosted their FY2027 earnings per share (EPS) estimates for Macy's in a report released on Thursday, September 24th. Zacks Research analyst Team now anticipates that the company will post earnings per share of $2.34 for the year, up from their prior forecast of $2.13. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Macy's' current full-year earnings is $2.34 per share. Zacks Research also issued estimates for Macy's' Q1 2028 earnings at $0.09 EPS, Q4 2028 earnings at $1.95 EPS, FY2028 earnings at $2.47 EPS, Q1 2029 earnings at $0.10 EPS and FY2029 earnings at $2.57 EPS.

Several other research firms have also recently commented on M. Citigroup boosted their target price on Macy's from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 25th. BTIG Research reiterated a "neutral" rating on shares of Macy's in a research report on Friday, September 11th. Weiss Ratings lowered shares of Macy's from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 10th. Morgan Stanley restated an "overweight" rating and set a $30.00 price objective on shares of Macy's in a research report on Monday, July 6th. Finally, Wall Street Zen raised Macy's from a "hold" rating to a "buy" rating in a research note on Sunday, September 20th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Macy's presently has an average rating of "Hold" and an average price target of $22.78.

Macy's Stock Performance

NYSE M opened at $22.34 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.59 and a quick ratio of 0.48. Macy's has a 1 year low of $16.41 and a 1 year high of $26.58. The stock has a market capitalization of $5.83 billion, a PE ratio of 8.18 and a beta of 1.41. The company's 50 day simple moving average is $23.29 and its two-hundred day simple moving average is $21.60.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Thursday, September 10th. The company reported $0.63 earnings per share (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 company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period in the previous year, the company posted $0.41 EPS. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. 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.

Hedge Funds Weigh In On Macy's

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Macy's by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 16,475,647 shares of the company's stock valued at $298,035,000 after buying an additional 329,675 shares during the period. RWC Asset Management LLP increased its holdings in shares of Macy's by 0.6% in the fourth quarter. RWC Asset Management LLP now owns 10,965,149 shares of the company's stock worth $241,782,000 after buying an additional 62,839 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Macy's by 67.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,823,034 shares of the company's stock valued at $150,448,000 after acquiring an additional 2,750,115 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Macy's by 81.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,763,721 shares of the company's stock valued at $104,266,000 after acquiring an additional 2,594,549 shares during the last quarter. Finally, Norges Bank purchased a new stake in Macy's during the 4th quarter valued at about $85,020,000. Institutional investors own 87.36% of the company's stock.

Macy's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.1915 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 15th. Macy's's payout ratio is presently 28.21%.

Macy's Company Profile

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.

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