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

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

Several other brokerages have also recently commented on M. Gordon Haskett cut Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Morgan Stanley restated a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Cowen reiterated a "hold" rating on shares of Macy's in a report on Friday, March 7th. New Street Research set a $13.00 price objective on Macy's in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group cut shares of Macy's from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $13.20.

Macy's Price Performance

Shares of Macy's stock traded up $0.63 on Friday, reaching $11.87. The company's stock had a trading volume of 7,970,133 shares, compared to its average volume of 6,546,598. The stock has a 50-day moving average price of $11.63 and a 200-day moving average price of $13.76. Macy's has a 52-week low of $9.76 and a 52-week high of $20.47. The company has a market capitalization of $3.22 billion, a P/E ratio of 20.12 and a beta of 1.74. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

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

Macy's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.1824 per share. The ex-dividend date is Friday, June 13th. This represents a $0.73 annualized dividend and a dividend yield of 6.15%. Macy's's dividend payout ratio (DPR) is 37.06%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Macy's

A number of large investors have recently bought and sold shares of M. RWC Asset Management LLP acquired a new stake in shares of Macy's during the first quarter valued at $80,868,000. Norges Bank acquired a new stake in shares of Macy's during the 4th quarter worth about $96,689,000. AQR Capital Management LLC grew its holdings in shares of Macy's by 269.2% during the first quarter. AQR Capital Management LLC now owns 5,229,543 shares of the company's stock worth $65,683,000 after buying an additional 3,813,210 shares in the last quarter. Junto Capital Management LP acquired a new position in shares of Macy's in the fourth quarter valued at approximately $48,775,000. Finally, FMR LLC lifted its stake in shares of Macy's by 59.9% during the fourth quarter. FMR LLC now owns 7,503,742 shares of the company's stock valued at $127,038,000 after buying an additional 2,812,151 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

Macy's Company Profile

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.