Macy’s, Inc. (NYSE:M) Receives Average Recommendation of “Hold” from Analysts

Macy’s, Inc. (NYSE:M) has received a consensus rating of “Hold” from the eleven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.56.

Several research analysts recently issued reports on M shares. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley cut their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. UBS Group lowered their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Finally, Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, December 16th.

Institutional Trading of Macy’s

Several hedge funds have recently modified their holdings of the stock. Quest Partners LLC acquired a new position in Macy’s during the third quarter worth $35,000. Venturi Wealth Management LLC boosted its holdings in Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after buying an additional 1,685 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Macy’s in the third quarter valued at $39,000. Abich Financial Wealth Management LLC bought a new stake in shares of Macy’s during the 2nd quarter valued at $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s during the 2nd quarter worth about $62,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Down 2.2 %

M opened at $16.56 on Friday. The business has a 50 day moving average of $16.09 and a 200-day moving average of $16.29. Macy’s has a 1-year low of $14.06 and a 1-year high of $22.10. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 28.07 and a beta of 2.10.

Macy’s (NYSE:M) last announced its quarterly earnings results 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 business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. As a group, sell-side analysts anticipate that Macy’s will post 2.38 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Friday, December 13th. Macy’s’s dividend payout ratio is 116.95%.

About Macy’s

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.