Macy’s (NYSE:M) Stock Rating Lowered by StockNews.com

Macy’s (NYSE:M) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

M has been the topic of a number of other research reports. Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley cut their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Wednesday. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday. Finally, UBS Group lowered their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.38.

Macy’s Price Performance

Shares of NYSE:M opened at $16.56 on Friday. Macy’s has a 12 month low of $14.06 and a 12 month high of $22.10. The firm has a market capitalization of $4.59 billion, a P/E ratio of 28.07 and a beta of 2.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. The company’s fifty day moving average price is $15.79 and its 200 day moving average price is $16.48.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the business earned $0.21 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Macy’s will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of Macy’s

Hedge funds have recently bought and sold shares of the company. CWM LLC grew its holdings in Macy’s by 7.7% in the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock valued at $161,000 after buying an additional 598 shares during the period. SummerHaven Investment Management LLC raised its stake in Macy’s by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after purchasing an additional 761 shares during the period. United Services Automobile Association boosted its holdings in shares of Macy’s by 4.8% in the 2nd quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock valued at $423,000 after purchasing an additional 1,012 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Macy’s by 2.5% during the 2nd quarter. Federated Hermes Inc. now owns 44,337 shares of the company’s stock valued at $851,000 after buying an additional 1,095 shares during the period. Finally, Affinity Capital Advisors LLC increased its holdings in shares of Macy’s by 11.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company’s stock worth $190,000 after buying an additional 1,248 shares during the last quarter. 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.