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

Macy’s (NYSE:M) updated its third quarter 2026 earnings guidance on Thursday. 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on M shares. Citigroup upped their price objective on Macy’s from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Weiss Ratings raised Macy’s from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $30.00 target price on shares of Macy’s in a research report on Monday, July 6th. UBS Group upped their price objective on shares of Macy’s from $9.00 to $10.00 and gave the company a “sell” rating in a report on Wednesday, August 26th. Finally, TD Cowen lifted their price objective on shares of Macy’s from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.78.

Macy’s Trading Down 4.2%

Macy’s stock opened at $21.51 on Thursday. The stock has a 50-day moving average price of $23.55 and a 200 day moving average price of $21.44. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 8.89 and a beta of 1.41. Macy’s has a 52 week low of $16.41 and a 52 week high of $26.58. The company has a quick ratio of 0.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.50.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, September 10th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.26. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.81 billion. Macy’s had a net margin of 2.94% and a return on equity of 13.68%. 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. Sell-side analysts anticipate that Macy’s will post 2.22 EPS for the current year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.1915 dividend. This represents a $0.77 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Macy’s’s dividend payout ratio is presently 31.82%.

Insider Activity

In related news, SVP Paul Griscom sold 10,077 shares of Macy’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $25.63, for a total transaction of $258,273.51. Following the completion of the transaction, the senior vice president directly owned 25,373 shares in the company, valued at approximately $650,309.99. This trade represents a 28.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas Edwards, Jr. sold 16,419 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $24.89, for a total transaction of $408,668.91. Following the sale, the executive vice president owned 20,000 shares in the company, valued at approximately $497,800. This represents a 45.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.05% of the stock is currently owned by company insiders.

Macy’s News Roundup

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

• Positive Sentiment: Macy’s reported adjusted earnings of $0.63 per share, well above the $0.37 analyst consensus, while revenue of $5.06 billion exceeded expectations of $4.81 billion. The company also reported a 2.94% net margin and 13.68% return on equity. Macy’s second-quarter 2026 press release
• Positive Sentiment: The retailer raised its full-year net-sales outlook to $21.68 billion-$21.83 billion, up from its prior forecast of $21.5 billion-$21.75 billion. Macy’s also increased its comparable-sales guidance, indicating that customer demand is holding up better than previously expected. Macy’s raises full-year outlook
• Positive Sentiment: Management said growth continued across all of Macy’s nameplates, while comparable sales increased. The combination of sales momentum, an earnings beat and improved guidance reinforces the view that the company’s turnaround is beginning to take hold. CNBC report on Macy’s second-quarter results
• Neutral Sentiment: Trading activity ahead of the report was unusually bullish, with investors purchasing 16,077 call options—about 39% above average volume. This may amplify short-term volatility but does not by itself change Macy’s underlying business outlook.

Institutional Investors Weigh In On Macy’s

A number of large investors have recently made changes to their positions in M. Smartleaf Asset Management LLC boosted its holdings in Macy’s by 51.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock valued at $34,000 after purchasing an additional 526 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Macy’s by 35.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock valued at $41,000 after purchasing an additional 486 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Macy’s during the 4th quarter worth about $54,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Macy’s by 31.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,528 shares of the company’s stock worth $78,000 after purchasing an additional 851 shares in the last quarter. Finally, Vestcor Inc purchased a new position in Macy’s in the 3rd quarter valued at approximately $118,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

About Macy’s

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.