Macy's (M) Given a $26.00 Price Target at Royal Bank of Canada

Macy's (NYSE:M) has been given a $26.00 price target by equities research analysts at Royal Bank of Canada in a research note issued to investors on Friday. The firm currently has a “hold” rating on the stock. Royal Bank of Canada’s price objective suggests a potential downside of 3.74% from the company’s previous close.

A number of other research firms have also issued reports on M. Telsey Advisory Group increased their target price on Macy's from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 28th. OTR Global upgraded Macy's to a “sell” rating in a report on Monday, December 18th. BMO Capital Markets set a $38.00 price objective on Macy's and gave the stock a “buy” rating in a report on Friday, January 5th. Canaccord Genuity reiterated a “buy” rating and set a $9.50 price objective on shares of Macy's in a report on Thursday, November 16th. Finally, Vetr upgraded Macy's from a “buy” rating to a “strong-buy” rating and set a $27.57 price objective for the company in a report on Monday, December 18th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $26.27.

Macy's (NYSE:M) traded up $0.41 on Friday, hitting $27.01. The stock had a trading volume of 5,615,214 shares, compared to its average volume of 12,550,000. The stock has a market capitalization of $8,230.00, a price-to-earnings ratio of 11.90, a P/E/G ratio of 0.85 and a beta of 0.97. Macy's has a one year low of $17.41 and a one year high of $34.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19.

Macy's (NYSE:M) last released its earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. The company had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.31 billion. Macy's had a return on equity of 21.20% and a net margin of 2.83%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. equities analysts expect that Macy's will post 3.63 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sentry Investment Management LLC grew its position in shares of Macy's by 1.0% in the second quarter. Sentry Investment Management LLC now owns 23,637 shares of the company’s stock valued at $549,000 after purchasing an additional 245 shares during the last quarter. Thrivent Financial For Lutherans grew its position in shares of Macy's by 2.9% in the second quarter. Thrivent Financial For Lutherans now owns 11,568 shares of the company’s stock valued at $269,000 after purchasing an additional 330 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of Macy's by 1.8% in the second quarter. Moors & Cabot Inc. now owns 26,675 shares of the company’s stock valued at $623,000 after purchasing an additional 469 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Macy's by 3.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 20,924 shares of the company’s stock valued at $486,000 after purchasing an additional 701 shares during the last quarter. Finally, MML Investors Services LLC grew its position in shares of Macy's by 3.2% in the second quarter. MML Investors Services LLC now owns 36,594 shares of the company’s stock valued at $850,000 after purchasing an additional 1,132 shares during the last quarter. Institutional investors own 82.07% 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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