Macy’s Now Covered by Pacific Crest (M)
Pacific Crest initiated coverage on shares of Macy’s (NYSE:M) in a research note issued on Friday, AnalystRatings.Net reports. The firm set an “outperform” rating and a $54.00 price target on the stock. Pacific Crest’s price objective would indicate a potential upside of 24.65% from the company’s current price.
A number of other analysts have also recently weighed in on M. Analysts at Sterne Agee cut their EPS estimates on shares of Macy’s (NYSE:M) in a research note on Tuesday. They now have a “buy” rating and a $52.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Macy’s (NYSE:M) in a research note to investors on Wednesday, September 4th. They set a “neutral” rating and a $48.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Macy’s (NYSE:M) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, August 19th. They now have a $47.00 price target on the stock. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $51.41.
Shares of Macy’s (NYSE:M) opened at 43.32 on Friday. Macy’s has a 52-week low of $36.30 and a 52-week high of $50.77. The stock’s 50-day moving average is $45.13 and its 200-day moving average is $46.16. The company has a market cap of $16.299 billion and a P/E ratio of 12.53. Macy’s also saw unusually large options trading on Wednesday. Stock traders acquired 12,753 call options on the stock. This is an increase of approximately 100% compared to the average daily volume of 6,362 call options.
Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.72 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.79 by $0.07. The company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the company posted $0.67 earnings per share. Macy’s's revenue was down .8% compared to the same quarter last year. On average, analysts predict that Macy’s will post $3.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, September 11th.
Macy’s, Inc (NYSE:M) is a retail organization operating stores and Internet Websites under two brands (Macy’s and Bloomingdale’s) that sell a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico.
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