Macy's Q2 Earnings Preview: Analyst Predictions Unveiled

Macy's Earnings Forecast and Insights
Macy’s, Inc. (NYSE: M) is poised to share its earnings results for the upcoming quarter. As analysts closely observe the retail giant, expectations are already being set regarding its performance. While there may be anticipation surrounding the earnings announcement, the outlook isn’t particularly optimistic this time around.
Quarterly Earnings Expectations
Industry analysts project that Macy's will register earnings of 19 cents per share for the quarter. This represents a significant decline compared to the 53 cents earned during the same period last year. Moreover, revenue is expected to hit approximately $4.7 billion, down from $4.94 billion year-over-year. These figures suggest a challenging environment for one of the most established department store chains.
Dividend Declaration
The board of directors at Macy’s declared a regular quarterly dividend of 18.24 cents per share. This decision reflects the company's ongoing commitment to return value to its shareholders, despite the challenges it faces in the retail market.
Stock Performance Update
Macy's shares have shown signs of resilience, rising 2% to close at $13.49 in the latest trading session. Observers note that stock performance may be influenced by earnings expectations, retail trends, and overall market sentiment.
Wall Street Analysts’ Ratings
Several analysts have recently adjusted their ratings and price targets for Macy’s stock. Here’s what a few prominent analysts have to say:
Analyst Insights
- Analyst Dana Telsey from Telsey Advisory Group maintained a Market Perform rating and set a price target of $14.
- JP Morgan’s Matthew Boss updated his rating to Neutral, increasing the price target from $12 to $16.
- Citigroup analyst Paul Lejuez reaffirmed a Neutral rating, raising the price target from $11 to $12.
- Morgan Stanley’s Alex Straton has an Equal-Weight rating, adjusting the price target from $14 to $12.
- Goldman Sachs’ Brooke Roach downgraded the rating from Buy to Neutral, reducing the price target from $17 to $12.
These varying ratings reflect different perceptions of Macy's growth potential, market conditions, and consumer behavior.
Conclusion: Looking Ahead
As Macy's prepares to report its earnings, stakeholders will be keenly watching how the company's results align with market expectations. Current trends in retail, particularly regarding consumer spending, will influence perceptions of Macy's future performance. With analysts remaining cautious, the forthcoming earnings report is likely to provide insights into the retailer's adaptation strategies and overall market health.
Frequently Asked Questions
What are Macy's expected earnings for the next quarter?
Analysts predict Macy's will earn 19 cents per share for the upcoming quarter.
How has Macy's stock performed recently?
Macy's stock gained 2%, closing at $13.49 in its recent trading session.
What was the dividend declared for the quarter?
Macy's board declared a dividend of 18.24 cents per share.
What is the price target set by analysts for Macy's stock?
Price targets vary, with estimates ranging from $12 to $16 depending on the analyst.
How are retail trends affecting Macy's earnings?
Retail trends, particularly consumer spending habits, significantly influence Macy's earnings outlook and stock performance.
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