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

Macy’s (NYSE:M) issued an update on its FY 2026 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.150-2.350 for the period, compared to the consensus estimate of 2.110. The company issued revenue guidance of $21.7 billion-$21.8 billion, compared to the consensus revenue estimate of $21.1 billion. Macy’s also updated its Q3 2026 guidance to -0.230–0.190 EPS.

Macy’s Stock Up 7.5%

NYSE:M opened at $22.03 on Friday. Macy’s has a fifty-two week low of $16.41 and a fifty-two week high of $26.58. The stock has a market capitalization of $5.79 billion, a P/E ratio of 8.07 and a beta of 1.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 1.59. The company’s 50-day simple moving average is $23.47 and its 200-day simple moving average is $21.43.

Macy’s (NYSE:M) last issued its quarterly earnings data 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 firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.81 billion. Macy’s had a net margin of 3.29% and a return on equity of 13.21%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. 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, equities analysts anticipate that Macy’s will post 2.29 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company 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 3.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Macy’s’s payout ratio is currently 31.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Cowen upped their price target on Macy’s from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Zacks Research raised Macy’s from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. boosted their target price on Macy’s from $21.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Telsey Advisory Group upped their target price on Macy’s from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings lowered Macy’s from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Macy’s presently has an average rating of “Hold” and an average price target of $22.78.

Insider Activity at Macy’s

In other Macy’s news, SVP Paul Griscom sold 10,077 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $25.63, for a total transaction of $258,273.51. Following the sale, the senior vice president owned 25,373 shares of the company’s stock, valued at approximately $650,309.99. The trade was a 28.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas Edwards, Jr. sold 16,419 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president owned 20,000 shares in the company, valued at $497,800. The trade was 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 insiders.

Trending Headlines about Macy’s

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

• Positive Sentiment: Macy’s exceeded analysts’ expectations for second-quarter earnings and revenue. Reported adjusted EPS was approximately $0.40 versus the $0.37 consensus, while revenue rose 1.1% year over year to roughly $4.9 billion. The company also reported growth across its major nameplates. Macy’s Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: The retailer raised its fiscal 2026 outlook, projecting EPS of $2.15-$2.35 versus a $2.11 consensus and revenue of approximately $21.7-$21.8 billion, above the $21.1 billion consensus. Its sales outlook was supported by higher comparable sales expectations and continued demand from middle- and higher-income customers. Macy’s Posts Strong Results and Raises Guidance
• Positive Sentiment: Management said premium merchandise and tariff refunds helped results. The improving sales trend and a roughly 3.5% dividend yield may appeal to income-focused investors if the turnaround continues and cash generation remains solid. Premium Goods Drive Sales Growth
• Neutral Sentiment: BTIG Research reaffirmed its “neutral” rating, indicating that the earnings improvement and valuation are balanced by execution risks in the ongoing turnaround. BTIG Research Rating
• Negative Sentiment: Despite the beat and guidance increase, investors initially focused on Macy’s projected third-quarter adjusted loss of $0.19-$0.23 per share, which is wider than the $0.12 consensus loss. Softer near-term comparable-sales expectations and broader market weakness also pressured sentiment. Macy’s Stock and Fiscal 2026 Outlook

Hedge Funds Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in M. Marshall Wace LLP purchased a new stake in Macy’s during the fourth quarter worth $69,562,000. Invesco Ltd. grew its position in Macy’s by 160.5% during the second quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock valued at $49,941,000 after buying an additional 2,639,132 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Macy’s by 39.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,950,950 shares of the company’s stock valued at $106,701,000 after buying an additional 1,697,412 shares during the period. AQR Capital Management LLC increased its holdings in Macy’s by 42.7% in the fourth quarter. AQR Capital Management LLC now owns 4,000,339 shares of the company’s stock valued at $87,687,000 after buying an additional 1,197,785 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in shares of Macy’s by 1,742.0% in the fourth quarter. Bridgewater Associates LP now owns 720,460 shares of the company’s stock worth $15,886,000 after acquiring an additional 681,348 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

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.