Macy’s Inc. Reaches New 12-Month High at $56.12 (M)
Shares of Macy’s (NYSE:M) hit a new 52-week high during mid-day trading on Thursday, American Banking News reports. The stock traded as high as $56.12 and last traded at $55.93, with a volume of 11,952,859 shares trading hands. The stock had previously closed at $51.84.
A number of research firms have recently commented on M. Analysts at UBS AG raised their price target on shares of Macy’s from $55.00 to $58.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Macy’s from $52.00 to $60.00 in a research note to investors on Thursday. Finally, analysts at Stifel Nicolaus raised their price target on shares of Macy’s from $55.00 to $64.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $55.90.
In other Macy’s news, Insider Julie Greiner Weiser sold 18,014 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $53.72, for a total value of $967,712.08. Following the sale, the insider now directly owns 64,272 shares in the company, valued at approximately $3,452,692. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Macy’s has a 52-week low of $36.35 and a 52-week high of $54.07. The stock’s 50-day moving average is $52.33 and its 200-day moving average is $47.7. The company has a market cap of $20.672 billion and a price-to-earnings ratio of 14.40.
Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.08. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that Macy’s will post $3.87 EPS for the current fiscal year.
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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