Analysts Offer Predictions for Macy's' Q1 Earnings (NYSE:M)

Macy's, Inc. (NYSE:M - Free Report) - Analysts at Zacks Research upped their Q1 2028 earnings per share estimates for shares of Macy's in a research report issued on Wednesday, June 11th. Zacks Research analyst S. Singh now expects that the company will earn $0.18 per share for the quarter, up from their previous forecast of $0.17. The consensus estimate for Macy's' current full-year earnings is $2.39 per share.

Several other research analysts have also recently issued reports on the company. The Goldman Sachs Group cut Macy's from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Barclays assumed coverage on Macy's in a research report on Monday, April 28th. They set a "cautious" rating and a $12.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Macy's from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. New Street Research set a $13.00 price objective on Macy's in a research report on Thursday, March 6th. Finally, Cowen reaffirmed a "hold" rating on shares of Macy's in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $13.20.

Macy's Stock Down 5.8%

Shares of NYSE:M traded down $0.69 on Friday, hitting $11.21. 6,135,426 shares of the company's stock were exchanged, compared to its average volume of 6,530,386. The firm's 50-day moving average is $11.61 and its 200 day moving average is $13.82. The company has a market capitalization of $3.04 billion, a PE ratio of 19.00 and a beta of 1.74. Macy's has a 1-year low of $9.76 and a 1-year high of $20.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the prior year, the business earned $0.27 EPS. Macy's's revenue was down 5.1% on a year-over-year basis.

Macy's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.1824 per share. The ex-dividend date is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a yield of 6.51%. Macy's's payout ratio is 37.06%.

Insiders Place Their Bets

In related news, EVP Tracy M. Preston sold 2,780 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the sale, the executive vice president now directly owns 4,723 shares of the company's stock, valued at $59,887.64. This trade represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Antony Spring sold 20,868 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares of the company's stock, valued at approximately $4,073,373.92. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,751 shares of company stock valued at $537,790. 1.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Macy's

Several hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC raised its position in Macy's by 106.0% in the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock worth $28,000 after acquiring an additional 38,800 shares in the last quarter. Headlands Technologies LLC purchased a new position in Macy's in the first quarter worth $29,000. Trifecta Capital Advisors LLC purchased a new position in Macy's in the fourth quarter worth $34,000. Jones Financial Companies Lllp raised its position in Macy's by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after acquiring an additional 969 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Macy's in the fourth quarter worth $38,000. 87.36% of the stock is owned by institutional investors and hedge funds.

About Macy's

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.