Macy’s Coverage Initiated by Analysts at Standpoint Research (M)
Stock analysts at Standpoint Research assumed coverage on shares of Macy’s (NYSE:M) in a report issued on Tuesday, American Banking and Market News reports. The firm set a “hold” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wells Fargo & Co. reiterated a “neutral” rating on shares of Macy’s in a research note to investors on Monday, October 14th. Separately, analysts at Barclays cut their price target on shares of Macy’s from $55.00 to $52.00 in a research note to investors on Tuesday, October 1st. They now have an “overweight” rating on the stock. Finally, analysts at Zacks downgraded shares of Macy’s from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, September 27th. They now have a $39.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.72.
Shares of Macy’s (NYSE:M) traded down 1.01% during mid-day trading on Tuesday, hitting $46.02. The stock had a trading volume of 1,110,443 shares. Macy’s has a one year low of $36.30 and a one year high of $50.77. The stock has a 50-day moving average of $44.27 and a 200-day moving average of $46.47. The company has a market cap of $17.315 billion and a P/E ratio of 13.45.
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 $3.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, December 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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