Macy's Q1 Earnings Expected to Plunge, Analysts Forecast Continued Caution
M has more than doubled off its 52-week low of $10.54.
Summary
Analysts expect Macy's Q1 results to show significant declines, with net profit projected at $5.7 million (down from $38 million) and adjusted EPS at 3 cents (down from 16 cents) year-over-year, despite flat revenue expectations of $4.61 billion. This preview suggests a continuation of the cautious outlook Macy's provided in its March earnings report for the current fiscal year. UBS analysts anticipate management will reaffirm its guidance, citing persistent macroeconomic uncertainty and potential cost headwinds. The expected sharp drop in profitability indicates significant margin pressure, which could temper investor sentiment. The actual Q1 financial results are scheduled to be released before market close on Wednesday.
At the time of this announcement, M was trading at $22.10 on NYSE in the Trade & Services sector, with a market capitalization of approximately $5.8B. The 52-week trading range was $10.54 to $24.41. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.