Macy's Upgraded by Morgan Stanley to Best Ideas List (M)
Several other analysts have also recently commented on the stock. 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, July 28th. 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. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.11.
Macy's (NYSE:M) traded down 0.07% during mid-day trading on Thursday, hitting $58.77. 3,075,020 shares of the company’s stock traded hands. Macy's has a one year low of $42.18 and a one year high of $61.26. The stock’s 50-day moving average is $58.1 and its 200-day moving average is $57.2. The company has a market cap of $21.183 billion and a P/E ratio of 14.95.
Macy's (NYSE:M) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts predict that Macy's will post $4.52 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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