Macy's (NYSE:M) Releases FY 2026 Earnings Guidance

Key Points

• Macy's set FY2026 guidance of $1.90–$2.10 EPS (below the $2.16 consensus) and revenue of $21.4B–$21.7B (roughly in line), and issued Q1 EPS guidance of −$0.01 to $0.01.
• Analyst sentiment has cooled: MarketBeat shows an average rating of "Reduce" with an average price target of $18.90, driven by multiple downgrades and many hold ratings.
• The company increased its quarterly dividend to $0.1915 (annualized $0.77, ~4.0% yield), while insiders sold about 94,967 shares in the last three months, including CEO Antony Spring's sale of 50,044 shares to cover tax obligations.

Macy's (NYSE:M - Get Free Report) updated its FY 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.900-2.100 for the period, compared to the consensus estimate of 2.160. The company issued revenue guidance of $21.4 billion-$21.7 billion, compared to the consensus revenue estimate of $21.6 billion. Macy's also updated its Q1 2026 guidance to -0.010-0.010 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Telsey Advisory Group reiterated a "market perform" rating and set a $20.00 price target on shares of Macy's in a report on Wednesday, April 1st. Wall Street Zen cut Macy's from a "strong-buy" rating to a "hold" rating in a report on Monday, March 23rd. TD Cowen reduced their price target on Macy's from $21.00 to $20.00 and set a "hold" rating for the company in a report on Thursday, March 19th. Citigroup reduced their price objective on Macy's from $24.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, March 19th. Finally, Jefferies Financial Group restated a "buy" rating and set a $22.00 price objective on shares of Macy's in a report on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Macy's currently has an average rating of "Reduce" and an average price target of $18.90.

Macy's Price Performance

M traded up $0.92 during trading on Thursday, hitting $19.26. 3,882,479 shares of the stock traded hands, compared to its average volume of 7,570,874. Macy's has a twelve month low of $10.54 and a twelve month high of $24.41. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 8.32 and a beta of 1.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50. The business has a 50 day moving average price of $19.47 and a 200 day moving average price of $20.18.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.55 by $0.12. Macy's had a net margin of 2.84% and a return on equity of 14.22%. The business had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same period in the previous year, the business earned $1.80 earnings per share. The company's revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that Macy's will post 2.39 earnings per share for the current fiscal year.

Macy's Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a $0.1915 dividend. The ex-dividend date was Friday, March 13th. This is a positive change from Macy's's previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. Macy's's dividend payout ratio (DPR) is currently 33.19%.

Insider Buying and Selling

In other Macy's news, CEO Antony Spring sold 50,044 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $896,788.48. Following the completion of the sale, the chief executive officer directly owned 485,791 shares in the company, valued at approximately $8,705,374.72. This trade represents a 9.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Olivier Bron sold 7,228 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $129,525.76. Following the sale, the chief executive officer owned 21,590 shares of the company's stock, valued at approximately $386,892.80. The trade was a 25.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 94,967 shares of company stock valued at $1,705,276. Company insiders own 1.09% of the company's stock.

Institutional Trading of Macy's

A number of large investors have recently bought and sold shares of M. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Macy's by 38.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company's stock worth $2,047,000 after acquiring an additional 45,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Macy's by 5.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company's stock worth $14,019,000 after acquiring an additional 55,821 shares during the period. Focus Partners Wealth grew its holdings in Macy's by 33.1% during the 1st quarter. Focus Partners Wealth now owns 58,197 shares of the company's stock worth $731,000 after acquiring an additional 14,489 shares during the period. Cetera Investment Advisers grew its holdings in Macy's by 49.6% during the 2nd quarter. Cetera Investment Advisers now owns 24,300 shares of the company's stock worth $283,000 after acquiring an additional 8,053 shares during the period. Finally, Invesco Ltd. grew its holdings in Macy's by 160.5% during the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company's stock worth $49,941,000 after acquiring an additional 2,639,132 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy's Company Profile

Macy's, Inc is a leading American omnichannel retailer operating under the Macy's brand, as well as specialty divisions Bloomingdale's and Bluemercury. The company's retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy's seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company's product assortment spans men's, women's and children's clothing, beauty and personal care products, housewares and home décor.

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