Macy’s PT Raised to $58.00 (M)
Equities researchers at UBS AG upped their price target on shares of Macy’s (NYSE:M) from $55.00 to $58.00 in a research report issued on Thursday, StockRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price objective points to a potential upside of 11.88% from the stock’s previous close.
Macy’s (NYSE:M) traded up 8.02% on Thursday, hitting $56.00. The stock had a trading volume of 8,294,298 shares. Macy’s has a 1-year low of $36.35 and a 1-year high of $54.07. The stock has a 50-day moving average of $52.33 and a 200-day moving average of $47.7. The company has a market cap of $20.635 billion and a P/E ratio of 14.40.
Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Macy’s will post $3.87 earnings per share for the current fiscal year.
M has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Sterne Agee raised their price target on shares of Macy’s from $57.00 to $62.00 in a research note to investors on Thursday. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Macy’s currently has an average rating of “Buy” and an average target price of $55.90.
In other Macy’s news, Insider Julie Greiner Weiser sold 18,014 shares of the 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 completion of the sale, the insider now directly owns 64,272 shares in the company, valued at approximately $3,452,692. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
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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