Macy's Receives Average Recommendation of “Buy” from Analysts (NYSE:M)
Macy's (NYSE:M) has been given a consensus recommendation of “Buy” by the sixteen ratings firms that are presently covering the stock, ARN reports. Three research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $61.97.
A number of analysts have recently weighed in on M shares. Analysts at Deutsche Bank cut their price target on shares of Macy's from $68.00 to $65.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, 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 Citigroup Inc. reiterated a “buy” rating on shares of Macy's in a research note on Thursday, May 29th.
Shares of Macy's (NYSE:M) traded up 0.40% during mid-day trading on Tuesday, hitting $57.81. 432,884 shares of the company’s stock traded hands. Macy's has a 1-year low of $42.18 and a 1-year high of $61.26. The stock has a 50-day moving average of $58.05 and a 200-day moving average of $57.15. The company has a market cap of $20.837 billion and a price-to-earnings ratio of 14.64.
Macy's (NYSE:M) last announced its earnings results on Wednesday, May 14th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts expect that Macy's will post $4.50 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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