Research Analysts Set Expectations for Macy's Q3 Earnings

Key Points

• Zacks Research lowered its Q3 2027 EPS estimate for Macy’s to a loss of $0.11 per share from a prior estimate of a $0.05 loss, while maintaining a Hold rating on the stock.
• Macy’s recently beat quarterly expectations, reporting EPS of $0.13 versus $0.02 expected and revenue of $4.89 billion versus $4.61 billion estimated, with revenue up 1.8% year over year.
• Analyst sentiment remains cautious overall, with one Buy, eleven Hold, and two Sell ratings, and a consensus target price of $20.30 despite some recent upward revisions from other firms.

Macy's, Inc. (NYSE:M - Free Report) - Zacks Research reduced their Q3 2027 EPS estimates for Macy's in a research note issued on Wednesday, June 17th. Zacks Research analyst Team now forecasts that the company will post earnings per share of ($0.11) for the quarter, down from their prior estimate of ($0.05). Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Macy's' current full-year earnings is $2.16 per share. Zacks Research also issued estimates for Macy's' Q1 2028 earnings at $0.10 EPS, Q3 2028 earnings at ($0.12) EPS and Q1 2029 earnings at $0.11 EPS.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.11. Macy's had a net margin of 2.94% and a return on equity of 13.68%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Macy's's revenue was up 1.8% on a year-over-year basis. Macy's has set its Q2 2026 guidance at 0.290-0.340 EPS and its FY 2026 guidance at 2.000-2.200 EPS.

M has been the topic of a number of other reports. TD Cowen decreased their price objective on Macy's from $21.00 to $20.00 and set a "hold" rating on the stock in a research report on Thursday, March 19th. Evercore set a $22.00 target price on Macy's in a report on Thursday, June 4th. JPMorgan Chase & Co. boosted their target price on Macy's from $21.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Wall Street Zen upgraded Macy's from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Finally, Citigroup lifted their price objective on shares of Macy's from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Macy's currently has an average rating of "Reduce" and a consensus target price of $20.30.

Macy's Stock Performance

Macy's stock opened at $24.18 on Friday. The company's 50-day moving average price is $20.69 and its 200-day moving average price is $20.77. Macy's has a twelve month low of $10.54 and a twelve month high of $25.65. The company has a quick ratio of 0.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.50. The company has a market cap of $6.36 billion, a PE ratio of 9.99 and a beta of 1.48.

Institutional Trading of Macy's

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strengthening Families & Communities LLC purchased a new stake in shares of Macy's during the fourth quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in Macy's in the 4th quarter worth about $29,000. Smartleaf Asset Management LLC increased its stake in Macy's by 51.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company's stock worth $34,000 after buying an additional 526 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Macy's by 35.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company's stock valued at $41,000 after buying an additional 486 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in Macy's by 7,265.6% during the 4th quarter. CoreCap Advisors LLC now owns 2,357 shares of the company's stock valued at $52,000 after buying an additional 2,325 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

Insiders Place Their Bets

In related news, CEO Olivier Bron sold 7,228 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $129,525.76. Following the completion of the sale, the chief executive officer directly owned 21,590 shares of the company's stock, valued at approximately $386,892.80. This trade represents a 25.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $94,456.32. Following the transaction, the executive vice president owned 28,773 shares of the company's stock, valued at approximately $515,612.16. The trade was a 15.48% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 94,967 shares of company stock worth $1,705,276. Corporate insiders own 1.05% of the company's stock.

Macy's Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, June 15th. Macy's's payout ratio is 31.82%.

Trending Headlines about Macy's

Here are the key news stories impacting Macy's this week:

• Positive Sentiment: Zacks articles say Macy’s is gaining traction with its turnaround strategy, with comparable sales improving and luxury/omnichannel initiatives helping support the case for better execution and revenue quality. Article Title
• Positive Sentiment: Several Zacks Research updates raised longer-term earnings estimates for Macy’s, which can signal improving expectations for profitability over the next few years. Article Title
• Neutral Sentiment: Analysts remain cautious overall, with Zacks Research keeping a “Hold” rating even while lifting some earnings forecasts, suggesting the stock may be fairly valued after its recent rally. Article Title
• Negative Sentiment: The same analysis also warned that margin pressure, store closures, and softer demand remain risks that could limit upside if the turnaround slows. Article Title

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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