Macy's, Inc. (M) Updates FY15 Earnings Guidance
Macy's, Inc. (NYSE:M) issued an update on its FY15 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.40-4.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.47, AmericanBankingNews.com reports.
Several analysts have recently commented on the stock. Analysts at EVA Dimensions LLC upgraded shares of Macy's from a hold rating to a buy rating in a research note on Wednesday, February 19th. On a related note, analysts at Citigroup Inc. initiated coverage on shares of Macy's in a research note on Wednesday, February 19th. They set a buy rating and a $63.00 price target on the stock. Finally, analysts at Nomura initiated coverage on shares of Macy's in a research note on Wednesday, February 12th. They set a buy rating and a $65.00 price target on the stock. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $59.50.
Shares of Macy's, Inc. (NYSE:M) opened at 53.06 on Tuesday. Macy's, Inc. has a 52-week low of $38.83 and a 52-week high of $56.65. The stock has a 50-day moving average of $53. and a 200-day moving average of $48.93. The company has a market cap of $19.552 billion and a P/E ratio of 14.74. Macy's also was the target of some unusual options trading activity on Monday. Stock traders bought 4,429 put options on the company. This represents an increase of approximately 300% compared to the typical volume of 1,108 put options.
Macy's (NYSE:M) last announced its earnings results on Tuesday, February 25th. The company reported $2.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.17 by $0.14. The company had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.27 billion. Analysts expect that Macy's, Inc. 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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