Macy’s Inc (M) Receives $29.88 Consensus Price Target from Analysts
Shares of Macy’s Inc (NYSE:M) have been assigned an average rating of “Hold” from the twenty-six research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $28.82.
Several brokerages have commented on M. Royal Bank Of Canada set a $28.00 target price on Macy’s and gave the stock a “hold” rating in a research note on Saturday, May 13th. Cowen and Company set a $29.00 target price on Macy’s and gave the stock a “hold” rating in a research note on Saturday, May 13th. UBS AG reissued a “neutral” rating and set a $21.00 target price (down previously from $23.00) on shares of Macy’s in a research note on Monday. BMO Capital Markets reissued an “outperform” rating on shares of Macy’s in a research note on Tuesday. Finally, Telsey Advisory Group lowered their target price on Macy’s from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, June 7th.
WARNING: This piece of content was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was copied illegally and republished in violation of international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/16/macys-inc-m-receives-29-88-consensus-price-target-from-analysts.html.
Macy’s (M) traded up 0.15% during midday trading on Friday, hitting $20.32. 4,780,002 shares of the stock traded hands. The firm’s 50 day moving average is $22.75 and its 200-day moving average is $26.69. The stock has a market capitalization of $6.19 billion, a PE ratio of 9.24 and a beta of 0.84. Macy’s has a 12-month low of $20.16 and a 12-month high of $45.41.
Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, analysts anticipate that Macy’s will post $3.33 EPS for the current fiscal year.
In other Macy’s news, insider Jeffrey Gennette purchased 13,085 shares of the business’s stock in a transaction on Monday, June 12th. The shares were purchased at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the acquisition, the insider now owns 89,053 shares of the company’s stock, valued at $2,043,766.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Lenehan purchased 4,390 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were acquired at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the acquisition, the director now directly owns 5,968 shares in the company, valued at approximately $135,592.96. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. boosted its position in Macy’s by 0.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 263,132 shares of the company’s stock worth $7,799,000 after buying an additional 2,094 shares during the last quarter. Creative Planning boosted its position in Macy’s by 14.3% in the first quarter. Creative Planning now owns 19,135 shares of the company’s stock worth $567,000 after buying an additional 2,393 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its position in Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares during the last quarter. Heritage Investors Management Corp boosted its position in Macy’s by 0.3% in the first quarter. Heritage Investors Management Corp now owns 19,254 shares of the company’s stock worth $571,000 after buying an additional 50 shares during the last quarter. Finally, Americafirst Capital Management LLC boosted its position in Macy’s by 169.9% in the first quarter. Americafirst Capital Management LLC now owns 9,558 shares of the company’s stock worth $283,000 after buying an additional 6,017 shares during the last quarter. Hedge funds and other institutional investors own 84.21% of the company’s stock.
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.
Receive News & Stock Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related stocks with our FREE daily email newsletter.