Macy’s Inc. (NYSE:M) Receives $43.42 Consensus PT from Analysts
Macy’s Inc. (NYSE:M) has received an average recommendation of “Hold” from the twenty-nine brokerages that are currently covering the firm. Two investment analysts have rated the stock with a sell recommendation, eighteen have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $43.42.
A number of equities analysts recently commented on M shares. Vetr downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $36.75 price objective for the company. in a research note on Tuesday, June 7th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Macy’s in a report on Thursday, June 23rd. Cowen and Company reaffirmed a “market perform” rating on shares of Macy’s in a report on Saturday, June 25th. Deutsche Bank AG lifted their price target on shares of Macy’s from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, July 25th. Finally, Zacks Investment Research raised shares of Macy’s from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a report on Tuesday, July 26th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Americafirst Capital Management LLC bought a new position in Macy’s during the second quarter valued at $133,000. Advisory Services Network LLC increased its position in Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock valued at $161,000 after buying an additional 565 shares during the period. First Manhattan Co. increased its position in Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock valued at $166,000 after buying an additional 1,796 shares during the period. Private Advisor Group LLC increased its position in Macy’s by 39.2% in the second quarter. Private Advisor Group LLC now owns 5,971 shares of the company’s stock valued at $201,000 after buying an additional 1,683 shares during the period. Finally, Beese Fulmer Investment Management Inc. increased its position in Macy’s by 0.7% in the second quarter. Beese Fulmer Investment Management Inc. now owns 5,998 shares of the company’s stock valued at $202,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.
Shares of Macy’s (NYSE:M) opened at 37.05 on Wednesday. The firm has a 50-day moving average price of $37.36 and a 200-day moving average price of $36.70. Macy’s has a 52 week low of $29.94 and a 52 week high of $52.48. The firm has a market cap of $11.43 billion, a PE ratio of 14.86 and a beta of 0.80.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. The company earned $5.87 billion during the quarter, compared to the consensus estimate of $5.73 billion. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. Macy’s’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts predict that Macy’s will post $3.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.08%. Macy’s’s dividend payout ratio (DPR) is presently 60.64%.
Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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