--- title: "Macy's (NYSE:M) Issues Q3 2024 Earnings Guidance" description: "Macy's (NYSE:M) has updated its Q3 2024 earnings guidance, projecting an EPS of -0.040 to -0.010, lower than the consensus estimate of 0.000. Revenue guidance is set at $1.7 billion to $1.8 billion, a" type: "news" locale: "en" url: "https://longbridge.com/en/news/212284035.md" published_at: "2024-08-22T15:44:41.000Z" --- # Macy's (NYSE:M) Issues Q3 2024 Earnings Guidance > Macy's (NYSE:M) has updated its Q3 2024 earnings guidance, projecting an EPS of -0.040 to -0.010, lower than the consensus estimate of 0.000. Revenue guidance is set at $1.7 billion to $1.8 billion, also below the consensus of $1.9 billion. Research analysts show mixed sentiments; two rated the stock as sell, seven as hold, and two as buy. A series of insider sales occurred recently, with executives selling shares worth significant amounts. Macy's (NYSE:M - Get Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -0.040-0.010 for the period, compared to the consensus estimate of 0.000. The company issued revenue guidance of $4.7 billion-$4.8 billion, compared to the consensus revenue estimate of $4.9 billion. ## Wall Street Analyst Weigh In - McDonald's Stock Nearing New High After Analyst Price Boost A number of research firms have weighed in on M. Evercore ISI decreased their price target on shares of Macy's from $22.00 to $17.00 and set an in-line rating on the stock in a research note on Tuesday, July 16th. Telsey Advisory Group restated a market perform rating and set a $21.00 target price on shares of Macy's in a research report on Wednesday. StockNews.com began coverage on shares of Macy's in a research report on Thursday. They set a hold rating for the company. TD Cowen raised their price objective on shares of Macy's from $20.00 to $21.00 and gave the stock a hold rating in a report on Wednesday, May 22nd. Finally, Morgan Stanley dropped their price target on Macy's from $18.00 to $17.00 and set an equal weight rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $17.80. **Check Out Our Latest Stock Report on M** ## Macy's Trading Up 0.2 % - Can Visa Capitalize on Surging Record Credit Card Debt Levels? Shares of Macy's stock traded up $0.03 during trading on Thursday, hitting $15.48. 4,064,470 shares of the company were exchanged, compared to its average volume of 6,725,362. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. The firm has a market capitalization of $4.28 billion, a P/E ratio of 514.00 and a beta of 2.18. The firm's fifty day moving average price is $17.53 and its 200 day moving average price is $18.77. Macy's has a 1-year low of $10.54 and a 1-year high of $22.10. Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.22. Macy's had a net margin of 0.05% and a return on equity of 21.40%. The company had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same period last year, the firm posted $0.26 earnings per share. The business's quarterly revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Macy's will post 2.79 earnings per share for the current fiscal year. ## Insider Activity - Merck's Stock Dip Offers a Buying Opportunity: Here’s Why In related news, CEO Antony Spring sold 18,981 shares of the company's stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Danielle L. Kirgan sold 24,147 shares of Macy's stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Antony Spring sold 18,981 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the completion of the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The disclosure for this sale can be found here. Insiders have sold a total of 43,464 shares of company stock worth $824,081 over the last three months. Corporate insiders own 2.77% of the company's stock. ## About Macy's (Get Free Report) Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands. ## Read More - Five stocks we like better than Macy's - The 3 Best Fintech Stocks to Buy Now - Toll Brothers Stock Up on Q3 Beat: Luxury Homes Drive Growth - Transportation Stocks Investing - 4 No-Brainer Stocks to Hold This Fall for Steady Gains - Do ETFs Pay Dividends? What You Need to Know - McDonald's Stock Nearing New High After Analyst Price Boost *This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.* → Famous Stock Market Bull Issues Rare “Collapse” Warning (From Stansberry Research) (Ad)## Should you invest $1,000 in Macy's right now? Before you consider Macy's, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Macy's wasn't on the list. While Macy's currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. 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