Macy’s Inc (M) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Macy’s Inc (NYSE:M) have been assigned an average recommendation of “Hold” from the twenty-five research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $25.46.

A number of equities research analysts have weighed in on M shares. BidaskClub cut shares of Macy’s from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. ValuEngine cut shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Cowen restated a “market perform” rating and issued a $23.00 price objective on shares of Macy’s in a report on Wednesday, September 6th. BMO Capital Markets restated an “outperform” rating on shares of Macy’s in a report on Thursday, September 14th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $23.00 price objective on shares of Macy’s in a report on Monday, September 18th.

Macy’s (NYSE:M) opened at $24.59 on Friday. Macy’s has a 52-week low of $17.41 and a 52-week high of $39.78. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. The stock has a market cap of $7,866.95, a PE ratio of 8.70, a P/E/G ratio of 0.90 and a beta of 0.97.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The company had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the company earned $0.17 earnings per share. Macy’s’s quarterly revenue was down 6.1% on a year-over-year basis. research analysts forecast that Macy’s will post 3.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.3775 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 6.14%. Macy’s’s dividend payout ratio is presently 66.52%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Voya Investment Management LLC lifted its position in Macy’s by 163.1% during the second quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock valued at $10,487,000 after purchasing an additional 279,720 shares during the period. Douglas Lane & Associates LLC lifted its position in Macy’s by 57.8% during the third quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock valued at $48,944,000 after purchasing an additional 821,366 shares during the period. Neuberger Berman Group LLC lifted its position in Macy’s by 48.4% during the second quarter. Neuberger Berman Group LLC now owns 928,351 shares of the company’s stock valued at $21,575,000 after purchasing an additional 302,628 shares during the period. Prudential Financial Inc. lifted its position in Macy’s by 75.3% during the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after purchasing an additional 2,153,110 shares during the period. Finally, Commonwealth Bank of Australia lifted its position in Macy’s by 27.8% during the second quarter. Commonwealth Bank of Australia now owns 140,199 shares of the company’s stock valued at $3,257,000 after purchasing an additional 30,500 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

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Macy’s Company Profile

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.

Analyst Recommendations for Macy`s (NYSE:M)

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