JPMorgan Chase & Co. Raises Macy's Price Target to $67.00 (M)
Equities research analysts at JPMorgan Chase & Co. raised their price objective on shares of Macy's (NYSE:M) from $60.00 to $67.00 in a research note issued to investors on Thursday. JPMorgan Chase & Co.’s target price indicates a potential upside of 11.50% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Macy's in a research note on Thursday, August 14th. They now have a $59.00 price target on the stock. Separately, 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 Morgan Stanley raised their price target on shares of Macy's from $60.00 to $66.00 in a research note on Wednesday, August 6th. They now have an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $63.36.
Macy's (NYSE:M) traded up 0.74% during mid-day trading on Thursday, hitting $60.535. The stock had a trading volume of 1,969,635 shares. Macy's has a 52-week low of $42.18 and a 52-week high of $61.26. The stock has a 50-day moving average of $58.2 and a 200-day moving average of $57.55. The company has a market cap of $21.399 billion and a price-to-earnings ratio of 14.91.
Macy's (NYSE:M) last released its earnings data on Wednesday, August 13th. The company reported $0.80 earnings per share (EPS) for the quarter, missing the 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 $4.42 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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