Macy's Price Target Cut to $65.00 by Analysts at Deutsche Bank (M)
Equities researchers at Deutsche Bank decreased their price objective on shares of Macy's (NYSE:M) from $68.00 to $65.00 in a research report issued on Monday. Deutsche Bank’s price target would suggest a potential upside of 13.12% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Macy's in a research note on Wednesday, June 11th. They now have a $70.00 price target on the stock, up previously from $63.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Macy's in a research note on Friday, May 16th. They now have a $60.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $61.97.
Shares of Macy's (NYSE:M) traded down 0.52% during mid-day trading on Monday, hitting $57.16. The stock had a trading volume of 750,751 shares. Macy's has a 1-year low of $42.18 and a 1-year high of $61.26. The stock’s 50-day moving average is $58.11 and its 200-day moving average is $57.06. The company has a market cap of $20.602 billion and a P/E ratio of 14.61.
Macy's (NYSE:M) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.01. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same quarter last year, the company posted $0.55 earnings per share. Macy's’s revenue was down 1.7% compared to the same quarter last year. On average, analysts predict that Macy's will post $4.50 earnings per share 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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