Macy's Price Target Raised to $70.00 (M)
Equities research analysts at Stifel Nicolaus upped their price target on shares of Macy's (NYSE:M) from $64.00 to $70.00 in a research note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 15.32% from the stock’s previous close.
A number of other firms have also recently commented on M. 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 analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $63.79.
Shares of Macy's (NYSE:M) opened at 60.70 on Friday. Macy's has a 1-year low of $42.18 and a 1-year high of $61.26. The stock’s 50-day moving average is $58.2 and its 200-day moving average is $57.57. The company has a market cap of $21.457 billion and a P/E ratio of 14.91.
Macy's (NYSE:M) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.80 EPS for the quarter, missing the Thomson Reuters 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. On average, analysts predict that Macy's will post $4.42 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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