Macy’s (NYSE:M) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Macy’s (NYSE:M) in a research note issued to investors on Sunday. The firm set a “hold” rating on the stock.

Several other brokerages also recently issued reports on M. Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Evercore ISI reduced their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.43.

Macy’s Stock Down 4.7 %

Macy’s stock opened at $15.67 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. Macy’s has a fifty-two week low of $10.59 and a fifty-two week high of $22.10. The company has a market capitalization of $4.35 billion, a PE ratio of 24.48 and a beta of 2.11. The firm has a 50 day moving average price of $15.37 and a 200 day moving average price of $17.08.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. Research analysts expect that Macy’s will post 2.72 earnings per share for the current year.

Institutional Investors Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norden Group LLC bought a new stake in Macy’s in the first quarter valued at approximately $259,000. GSA Capital Partners LLP bought a new position in Macy’s in the 1st quarter valued at $561,000. Empowered Funds LLC bought a new position in Macy’s in the 1st quarter valued at $208,000. Swiss National Bank grew its stake in shares of Macy’s by 0.3% during the 1st quarter. Swiss National Bank now owns 541,100 shares of the company’s stock worth $10,817,000 after acquiring an additional 1,800 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Macy’s by 44.9% during the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock worth $10,331,000 after acquiring an additional 160,093 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

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.