Macy’s Rating Increased to Outperform at BMO Capital Markets (M)
Macy’s (NYSE:M) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $70.00 target price on the stock, up from their previous target price of $53.00. BMO Capital Markets’ target price would indicate a potential upside of 25.45% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Macy’s from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, November 25th. They now have a $54.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Macy’s from $50.00 to $55.00 in a research note to investors on Thursday, November 14th. They now have a “neutral” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Macy’s in a research note to investors on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $55.90.
Macy’s (NYSE:M) traded up 7.64% on Thursday, hitting $55.80. The stock had a trading volume of 14,735,422 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 $20.561 billion and a price-to-earnings ratio of 14.40. Macy’s also was the target of unusually large options trading activity on Thursday. Stock traders bought 33,660 call options on the company. This represents an increase of 424% compared to the typical daily volume of 6,418 call options.
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 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. Analysts expect that Macy’s will post $3.87 EPS for the current fiscal year.
In other Macy’s news, Insider Julie Greiner Weiser unloaded 18,014 shares of Macy’s stock on the open market in a transaction that occurred on Monday, December 30th. The stock was 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 of the company’s stock, valued at approximately $3,452,692. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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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