Macy’s (NYSE:M) Issues Q3 2026 Earnings Guidance

Macy’s (NYSE:M) updated its third quarter 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -0.230–0.190 for the period, compared to the consensus estimate of -0.120. The company issued revenue guidance of $4.7 billion-$4.7 billion, compared to the consensus revenue estimate of $4.7 billion. Macy’s also updated its FY 2026 guidance to 2.150-2.350 EPS.

Wall Street Analyst Weigh In

Several research firms recently commented on M. Weiss Ratings raised shares of Macy’s from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Citigroup increased their target price on Macy’s from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. lifted their price target on Macy’s from $21.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Evercore set a $22.00 price objective on Macy’s in a research report on Thursday, June 4th. Finally, Telsey Advisory Group increased their price objective on Macy’s from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.78.

Macy’s Price Performance

Shares of M opened at $20.50 on Friday. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 8.47 and a beta of 1.41. Macy’s has a 1-year low of $16.41 and a 1-year high of $26.58. The company’s fifty day simple moving average is $23.49 and its 200 day simple moving average is $21.42. The company has a current ratio of 1.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.50.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, September 10th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.26. Macy’s had a net margin of 2.94% and a return on equity of 13.68%. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter last year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Macy’s has set its Q3 2026 guidance at -0.230–0.190 EPS and its FY 2026 guidance at 2.150-2.350 EPS. On average, research analysts forecast that Macy’s will post 2.22 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $0.1915 dividend. This represents a $0.77 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Macy’s’s dividend payout ratio (DPR) is 31.82%.

Insider Transactions at Macy’s

In related news, SVP Paul Griscom sold 10,077 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $25.63, for a total value of $258,273.51. Following the sale, the senior vice president owned 25,373 shares in the company, valued at approximately $650,309.99. This represents a 28.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas Edwards, Jr. sold 16,419 shares of Macy’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $24.89, for a total transaction of $408,668.91. Following the transaction, the executive vice president directly owned 20,000 shares of the company’s stock, valued at approximately $497,800. This trade represents a 45.08% decrease in their ownership of the stock. 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. Company insiders own 1.05% of the company’s stock.

Macy’s News Summary

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

• Positive Sentiment: Macy’s exceeded second-quarter expectations, reporting approximately $0.40 in adjusted EPS and $4.9 billion in revenue versus consensus estimates of $0.37 and $4.83 billion, respectively. Revenue increased 1.1% year over year. Macy’s Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: The retailer raised its fiscal 2026 outlook, calling for EPS of $2.15–$2.35 and revenue of roughly $21.7–$21.8 billion, above Wall Street expectations. Comparable sales also improved, supporting management’s view that its turnaround is gaining traction. Macy’s Posts Strong Results and Raises Guidance
• Positive Sentiment: Sales growth was helped by premium merchandise and stronger spending from middle- and high-income customers across Macy’s nameplates. The roughly 3.5% dividend yield may also appeal to income investors if the turnaround continues to support cash flow. Premium Goods Drive Sales Growth
• Neutral Sentiment: Unusually heavy call-option activity before the report indicated elevated bullish positioning, but it may also have increased the risk of profit-taking when the results failed to exceed already-high expectations. Macy’s Options Activity
• Negative Sentiment: Fiscal third-quarter EPS guidance of negative $0.23 to negative $0.19 was below the consensus estimate of negative $0.12. Investors may view the full-year improvement as partly aided by tariff refunds, making the earnings beat appear less durable. Broader market weakness and a sharp rise in crude oil also pressured sentiment toward retailers. Why a Beat and Raise Did Not Lift Macy’s Stock

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC raised its holdings in Macy’s by 58.8% in the 4th quarter. Corient Private Wealth LLC now owns 305,516 shares of the company’s stock valued at $6,737,000 after acquiring an additional 113,132 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Macy’s by 420.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 66,243 shares of the company’s stock valued at $1,461,000 after purchasing an additional 53,512 shares during the last quarter. Vident Advisory LLC acquired a new position in shares of Macy’s in the fourth quarter valued at approximately $231,000. Delta Global Management LP acquired a new position in shares of Macy’s in the fourth quarter valued at approximately $2,389,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Macy’s during the fourth quarter worth approximately $253,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

Macy’s, Inc is an American omnichannel retailer that sells a broad range of merchandise through department stores, specialty stores and digital platforms. Its product offerings include apparel, accessories, beauty products, home furnishings, jewelry, furniture and other consumer goods.

The company operates through several well-known retail banners, including Macy’s, Bloomingdale’s and Bluemercury. Macy’s serves customers primarily in the United States through its stores and e-commerce websites, while Bloomingdale’s offers fashion, accessories, beauty and home merchandise through department stores, outlets and digital channels.