Macy's’s Neutral Rating Reaffirmed at Zacks (M)
Macy's (NYSE:M)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Thursday. They currently have a $59.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 4.48% from the company’s current price.
Macy's (NYSE:M) traded up 1.78% during mid-day trading on Thursday, hitting $57.475. The stock had a trading volume of 5,532,536 shares. Macy's has a one year low of $42.18 and a one year high of $61.26. The stock has a 50-day moving average of $58.20 and a 200-day moving average of $57.38. The company has a market cap of $20.716 billion and a P/E ratio of 14.36. Macy's also was the recipient of unusually large options trading activity on Monday. Stock traders bought 3,040 put options on the stock. This is an increase of approximately 103% compared to the average volume of 1,495 put options.
Macy's (NYSE:M) last released its earnings data on Wednesday, August 13th. The company reported $0.80 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.86 by $0.06. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.30 billion. Analysts expect that Macy's will post $4.47 EPS for the current fiscal year.
A number of other firms have also recently commented on M. Analysts at Morgan Stanley upgraded shares of Macy's to a “best ideas list” rating in a research note on Thursday, August 7th. Finally, 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. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $62.86.
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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