Macy’s Inc (NYSE:M) Expected to Announce Earnings of -$0.88 Per Share

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Wall Street brokerages expect Macy’s Inc (NYSE:M) to announce earnings of ($0.88) per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Macy’s’ earnings. The lowest EPS estimate is ($1.18) and the highest is ($0.78). Macy’s reported earnings per share of $0.07 during the same quarter last year, which would indicate a negative year-over-year growth rate of 1,357.1%. The company is expected to issue its next earnings results on Thursday, November 19th.

According to Zacks, analysts expect that Macy’s will report full-year earnings of ($4.00) per share for the current year, with EPS estimates ranging from ($4.85) to ($3.70). For the next financial year, analysts forecast that the firm will report earnings of $0.56 per share, with EPS estimates ranging from ($0.31) to $1.15. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Macy’s.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.81) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.77) by $0.96. Macy’s had a negative return on equity of 4.56% and a negative net margin of 18.27%. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The firm’s quarterly revenue was down 35.8% on a year-over-year basis.

Several analysts have issued reports on M shares. Bank of America reaffirmed an “underperform” rating and issued a $4.50 price objective (down previously from $5.00) on shares of Macy’s in a research report on Friday, May 22nd. Telsey Advisory Group lifted their price objective on shares of Macy’s from $6.00 to $7.00 and gave the stock a “market perform” rating in a report on Thursday, September 3rd. Cfra decreased their price objective on shares of Macy’s from $4.00 to $3.00 and set a “sell” rating for the company in a report on Thursday, May 21st. Credit Suisse Group started coverage on Macy’s in a research note on Friday, September 4th. They issued a “sell” rating and a $6.00 target price on the stock. Finally, Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating and set a $8.00 target price on the stock in a research note on Wednesday, August 12th. Nine research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Macy’s has a consensus rating of “Hold” and an average target price of $8.73.

A number of institutional investors have recently bought and sold shares of M. Public Employees Retirement Association of Colorado boosted its stake in Macy’s by 25.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 43,153 shares of the company’s stock worth $212,000 after purchasing an additional 8,882 shares during the period. Cadence Capital Management LLC purchased a new stake in Macy’s in the 1st quarter worth approximately $61,000. Aperio Group LLC lifted its position in Macy’s by 228.7% in the 1st quarter. Aperio Group LLC now owns 1,433,134 shares of the company’s stock worth $7,037,000 after buying an additional 997,128 shares in the last quarter. Creative Planning lifted its position in Macy’s by 5.6% in the 1st quarter. Creative Planning now owns 55,659 shares of the company’s stock worth $273,000 after buying an additional 2,946 shares in the last quarter. Finally, Alaska Permanent Fund Corp purchased a new stake in Macy’s in the 1st quarter worth approximately $327,000. 83.68% of the stock is owned by hedge funds and other institutional investors.

NYSE:M traded up $0.11 during trading hours on Wednesday, hitting $6.98. The stock had a trading volume of 20,677,291 shares, compared to its average volume of 30,839,551. The company has a current ratio of 1.16, a quick ratio of 0.42 and a debt-to-equity ratio of 2.09. Macy’s has a 1-year low of $4.38 and a 1-year high of $18.57. The business has a 50 day simple moving average of $6.82 and a two-hundred day simple moving average of $6.84. The company has a market cap of $2.17 billion, a PE ratio of -0.59 and a beta of 1.53.

Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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Earnings History and Estimates for Macy`s (NYSE:M)

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