On Tuesday morning we’ll get to see earnings out of Macy’s, Inc. (NYSE: M). The estimates from First Call are $1.60 EPS on $8.62 billion in revenues. Next quarter estimates are $0.04 EPS and $5.81 billion in revenues, and estimates for fiscal Jan-2009 are $2.03 EPS and $26.06 billion in revenues.
Analysts have an average price target of $29.00 and the Macy’s 52-week trading range is $20.94 to $46.70. Macy’s had recently announced lower guidance, several store closures, and more than 2,000 employee job cuts.
At $24.76 on Monday this one is even farther off of its highs than Nordstrom earnings. Nordstrom earnings guidance was weak and that likely may set the trend that even bad news is starting to get factored in if it isn’t catastrophic. Macy’s already lowered its own bar.
Jon C. Ogg
February 26, 2008
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.