What is Zacks Research’s Forecast for Macy’s Q1 Earnings?

Macy’s, Inc. (NYSE:M) – Investment analysts at Zacks Research boosted their Q1 2028 earnings estimates for shares of Macy’s in a research report issued to clients and investors on Wednesday, June 11th. Zacks Research analyst S. Singh now forecasts that the company will post earnings of $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.

Other equities research analysts have also issued reports about the company. New Street Research set a $13.00 price objective on Macy’s in a research note on Thursday, March 6th. Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. UBS Group dropped their price objective on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 7th. Citigroup reissued a “neutral” rating and set a $12.00 price objective (up from $11.00) on shares of Macy’s in a report on Thursday, May 29th. Finally, The Goldman Sachs Group downgraded shares of Macy’s from a “buy” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $12.00 in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Macy’s presently has a consensus rating of “Hold” and an average target price of $13.20.

Macy’s Stock Performance

NYSE:M opened at $11.88 on Friday. The firm has a market capitalization of $3.23 billion, a PE ratio of 20.14 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 has a 12-month low of $9.76 and a 12-month high of $20.47. The firm has a 50-day moving average price of $11.61 and a 200 day moving average price of $13.82.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping 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 the consensus estimate of $4.38 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year.

Institutional Investors Weigh In On Macy’s

Hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC grew its position in shares of Macy’s by 106.0% during the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock worth $28,000 after buying an additional 38,800 shares during the period. Headlands Technologies LLC bought a new position in Macy’s in the first quarter valued at approximately $29,000. Trifecta Capital Advisors LLC acquired a new stake in Macy’s during the 4th quarter worth $34,000. Jones Financial Companies Lllp grew its holdings in Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in shares of Macy’s during the 4th quarter valued at $38,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Macy’s

In other news, CEO Antony Spring sold 20,868 shares of the stock in a transaction that occurred on 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 directly owns 321,244 shares of the company’s stock, valued at $4,073,373.92. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy M. Preston sold 2,780 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were 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 approximately $59,887.64. This represents a 37.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock valued at $537,790 over the last ninety days. 1.09% of the stock is owned by insiders.

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 $0.1824 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.14%. Macy’s’s dividend payout ratio (DPR) is presently 37.06%.

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.