Macy's Hits New 1-Year High on Analyst Upgrade (M)
Macy's (NYSE:M) shares reached a new 52-week high on Friday after Stifel Nicolaus raised their price target on the stock from $64.00 to $70.00, Analyst Ratings Net reports. Stifel Nicolaus currently has a buy rating on the stock. Macy's traded as high as $61.85 and last traded at $61.72, with a volume of 2,980,737 shares changing hands. The stock had previously closed at $60.70.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Macy's from $60.00 to $67.00 in a research note on Thursday. Separately, 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. Finally, analysts at Morgan Stanley upgraded shares of Macy's to a “best ideas list” rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Macy's currently has a consensus rating of “Buy” and a consensus price target of $63.79.
The stock has a 50-day moving average of $58.2 and a 200-day moving average of $57.57. The company has a market cap of $21.829 billion and a price-to-earnings ratio of 15.07.
Macy's (NYSE:M) last issued 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 $4.45 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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