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

Macy’s (NYSE:M) updated its third quarter 2026 earnings guidance on Thursday morning. The company provided earnings per share 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 Down 4.2%

NYSE M opened at $21.51 on Thursday. 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. The company has a market capitalization of $5.66 billion, a P/E ratio of 8.89 and a beta of 1.41. The stock’s 50-day moving average price is $23.55 and its 200-day moving average price is $21.44.

Macy’s (NYSE:M) last released its earnings results on Thursday, September 10th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.26. Macy’s had a net margin of 2.94% and a return on equity of 13.68%. The company 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. On average, equities research analysts predict that Macy’s will post 2.22 earnings per share for the current year.

Macy’s Announces Dividend

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 dividend of $0.1915 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.77 dividend on an annualized basis and a yield of 3.6%. Macy’s’s dividend payout ratio (DPR) is currently 31.82%.

Analyst Ratings Changes

M has been the topic of several research analyst reports. Weiss Ratings upgraded Macy’s from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. JPMorgan Chase & Co. boosted their price target on Macy’s from $21.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Citigroup upped their price target on Macy’s from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Morgan Stanley reiterated an “overweight” rating and set a $30.00 price objective on shares of Macy’s in a research report on Monday, July 6th. Finally, Telsey Advisory Group raised their target price on shares of Macy’s from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Macy’s presently has a consensus rating of “Hold” and an average target price of $22.78.

Insider Activity

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 stock was sold at an average price of $25.63, for a total transaction of $258,273.51. Following the sale, the senior vice president directly owned 25,373 shares of the company’s stock, valued at $650,309.99. The trade was a 28.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas Edwards, Jr. sold 16,419 shares of the firm’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 value of $408,668.91. Following the completion of the sale, the executive vice president directly owned 20,000 shares of the company’s stock, valued at $497,800. The trade was a 45.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 corporate insiders.

Key Headlines Impacting Macy’s

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 Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of M. Smartleaf Asset Management LLC boosted its stake in shares of Macy’s by 51.7% during the 4th 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 period. CIBC Private Wealth Group LLC grew its stake in shares of Macy’s by 35.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock valued at $41,000 after buying an additional 486 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Macy’s in the fourth quarter worth $54,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $78,000 after purchasing an additional 851 shares during the period. Finally, Vestcor Inc bought a new position in shares of Macy’s in the third quarter worth about $118,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

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.