Shares of Macy’s Inc (NYSE:M) have been assigned an average recommendation of “Hold” from the twenty research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $24.37.
A number of equities analysts recently commented on M shares. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Deutsche Bank lifted their price target on Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, May 16th. UBS Group set a $25.00 target price on Macy’s and gave the company a “hold” rating in a research note on Friday, May 17th. Finally, Goldman Sachs Group upgraded Macy’s from a “sell” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $21.00 in a research note on Thursday, May 16th.
In other Macy’s news, CFO Paula A. Price sold 1,189 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total value of $25,325.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey Gennette purchased 5,000 shares of the company’s stock in a transaction on Friday, May 17th. The stock was bought at an average cost of $21.96 per share, for a total transaction of $109,800.00. Following the acquisition, the chairman now directly owns 102,525 shares of the company’s stock, valued at approximately $2,251,449. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 20,000 shares of company stock worth $432,950. 0.55% of the stock is owned by corporate insiders.
Shares of NYSE M traded up $0.08 during midday trading on Thursday, reaching $19.36. 15,728,828 shares of the company’s stock were exchanged, compared to its average volume of 9,386,896. Macy’s has a 52-week low of $18.86 and a 52-week high of $41.99. The company has a market capitalization of $6.00 billion, a PE ratio of 4.63, a PEG ratio of 0.83 and a beta of 0.55. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.42 and a quick ratio of 0.32. The stock’s fifty day moving average price is $21.54.
Macy’s (NYSE:M) last announced its earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.11. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts expect that Macy’s will post 3.11 EPS for the current year.
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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