Guggenheim Reaffirms “Neutral” Rating for Macy’s (NYSE:M)

Guggenheim reissued their neutral rating on shares of Macy’s (NYSE:M) in a research note published on Thursday morning,Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley decreased their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Telsey Advisory Group restated a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research note on Wednesday. Finally, Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.38.

Macy’s Stock Performance

Shares of M opened at $16.56 on Thursday. The stock has a 50-day simple moving average of $15.79 and a 200-day simple moving average of $16.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The stock has a market capitalization of $4.59 billion, a PE ratio of 28.07 and a beta of 2.10. Macy’s has a 1 year low of $14.06 and a 1 year high of $22.10.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. On average, analysts predict that Macy’s will post 2.38 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s payout ratio is currently 116.95%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in shares of Macy’s in the third quarter valued at approximately $35,000. Venturi Wealth Management LLC boosted its position in Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after purchasing an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Macy’s during the third quarter worth $39,000. Abich Financial Wealth Management LLC purchased a new stake in Macy’s during the second quarter worth $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s during the second quarter worth $62,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.