Macy’s Price Target Cut to $52.00 by Analysts at Barclays Capital (M)
Equities researchers at Barclays Capital dropped their target price on shares of Macy’s (NYSE:M) from $55.00 to $52.00 in a research report issued on Tuesday, American Banking News reports. The firm currently has an “overweight” rating on the stock. Barclays Capital’s price objective would indicate a potential upside of 20.18% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Macy’s (NYSE:M) from a “neutral” rating to an “underperform” rating in a research note to investors on Friday. They now have a $39.00 price target on the stock. Separately, analysts at Pacific Crest initiated coverage on shares of Macy’s (NYSE:M) in a research note to investors on Friday. They set an “outperform” rating and a $54.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.72.
Macy’s (NYSE:M) traded up 0.37% on Tuesday, hitting $43.43. 2,557,841 shares of the company’s stock traded hands. 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 $44.85 and its 200-day moving average is $46.24. The company has a market cap of $16.340 billion and a price-to-earnings ratio of 12.52.
Macy’s (NYSE:M) last issued its quarterly earnings data 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 $3.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 1st. Stockholders 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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