Several brokerages have updated their recommendations and price targets on shares of Macy’s (NYSE: M) in the last few weeks:

  • 10/2/2017 – Macy’s was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/28/2017 – Macy’s had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $23.00 price target on the stock.
  • 9/18/2017 – Macy’s had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $23.00 price target on the stock.
  • 9/14/2017 – Macy’s had its “outperform” rating reaffirmed by analysts at BMO Capital Markets.
  • 9/6/2017 – Macy’s had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $23.00 price target on the stock.
  • 9/1/2017 – Macy’s was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/26/2017 – Macy’s was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 8/19/2017 – Macy’s was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/15/2017 – Macy’s had its “outperform” rating reaffirmed by analysts at BMO Capital Markets.
  • 8/14/2017 – Macy’s had its “neutral” rating reaffirmed by analysts at UBS AG. They now have a $21.00 price target on the stock, down previously from $23.00.
  • 8/11/2017 – Macy’s was given a new $36.00 price target on by analysts at BMO Capital Markets. They now have a “buy” rating on the stock.
  • 8/11/2017 – Macy’s was given a new $23.00 price target on by analysts at Royal Bank Of Canada. They now have a “hold” rating on the stock.
  • 8/11/2017 – Macy’s had its price target lowered by analysts at Credit Suisse Group from $29.00 to $26.00. They now have a “neutral” rating on the stock.
  • 8/11/2017 – Macy’s had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $23.00 price target on the stock, down previously from $26.00.
  • 8/11/2017 – Macy’s had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $21.00 price target on the stock, down previously from $24.00.
  • 8/8/2017 – Macy’s had its price target raised by analysts at Deutsche Bank AG from $24.00 to $25.00. They now have a “hold” rating on the stock.
  • 8/8/2017 – Macy’s was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Macy’s waning top and bottom-line performance has been a major concern. As a result, the stock has been hit hard and underperformed the industry in the past six months. Challenging retail landscape, aggressive pricing strategy, waning mall traffic and increased online competition have been major deterrents. Macy’s warned investors that its margins may continue to feel the pinch. Management now envisions fiscal 2017 gross margin to contract 60–80 basis points, while for the second quarter it expects the same to shrivel by 100 basis points from the year-ago period. Macy’s continues to project comps on an owned basis to decrease in the band of 2.2–3.3% and sales to decline in the range of 3.2–4.3% in fiscal 2017. Nevertheless, Macy’s has announced slew of measures revolving around stores closures, cost containment, real estate strategy and investment in omnichannel capabilities to improve its performance.”

Shares of Macy’s Inc (M) traded up 0.77% during trading on Tuesday, reaching $21.05. The company had a trading volume of 10,003,797 shares. The firm has a market capitalization of $6.41 billion, a PE ratio of 9.57 and a beta of 0.87. The firm has a 50-day moving average of $21.25 and a 200 day moving average of $24.12. Macy’s Inc has a 1-year low of $19.32 and a 1-year high of $45.41.

Macy’s (NYSE:M) last announced its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. Analysts expect that Macy’s Inc will post $3.40 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a $0.3775 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.17%. Macy’s’s payout ratio is 68.64%.

In other Macy’s news, Director John A. Bryant acquired 9,825 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the purchase, the director now owns 9,825 shares in the company, valued at approximately $199,644. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.40% of the company’s stock.

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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