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

Macy’s (NYSE:M) issued an update on its third quarter 2026 earnings guidance on Thursday morning. The company provided 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.

Macy’s Stock Performance

Shares of M opened at $21.51 on Thursday. Macy’s has a 12-month low of $16.41 and a 12-month high of $26.58. The company has a current ratio of 1.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.66 billion, a PE ratio of 8.89 and a beta of 1.41. The stock has a 50-day moving average price of $23.55 and a 200-day moving average price of $21.44.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, September 10th. The company reported $0.63 earnings per share for the quarter, topping 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 analyst estimates of $4.81 billion. 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. As a group, equities analysts forecast that Macy’s will post 2.22 earnings per share for the current fiscal year.

Macy’s Announces Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup lifted their price objective on Macy’s from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, August 25th. TD Cowen boosted their target price on Macy’s from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Weiss Ratings raised Macy’s from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Telsey Advisory Group raised their price target on shares of 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, JPMorgan Chase & Co. boosted their price objective on shares of Macy’s from $21.00 to $27.00 and gave the stock a “neutral” 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 assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus target price of $22.78.

Insider Transactions at Macy’s

In other Macy’s news, EVP Thomas Edwards, Jr. sold 16,419 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $24.89, for a total value of $408,668.91. Following the completion of the sale, the executive vice president owned 20,000 shares in the company, valued at $497,800. This represents a 45.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paul Griscom sold 10,077 shares of the company’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 owned 25,373 shares of the company’s stock, valued at approximately $650,309.99. The trade was a 28.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.05% of the company’s stock.

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.

Hedge Funds Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently modified their holdings of M. Smartleaf Asset Management LLC increased its position in Macy’s by 51.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after purchasing an additional 526 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Macy’s by 35.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock worth $41,000 after acquiring an additional 486 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Macy’s in the 4th quarter valued at approximately $54,000. Northwestern Mutual Wealth Management Co. boosted its stake in 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 buying an additional 851 shares during the period. Finally, Vestcor Inc purchased a new stake in shares of Macy’s in the third quarter valued at $118,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

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.