Macy’s, Inc. (NYSE:M) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Macy’s, Inc. (NYSE:M) have earned an average rating of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $20.43.

M has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Argus raised Macy’s to a “hold” rating in a research note on Thursday, October 10th. Evercore ISI cut their price objective on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Finally, StockNews.com initiated coverage on Macy’s in a research report on Friday. They issued a “hold” rating for the company.

Institutional Investors Weigh In On Macy’s

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Macy’s by 7.7% during the second quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after purchasing an additional 598 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Macy’s by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after purchasing an additional 761 shares during the period. Wedmont Private Capital grew its stake in shares of Macy’s by 6.1% during the second quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after purchasing an additional 833 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Macy’s by 0.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after purchasing an additional 877 shares during the period. Finally, Gamco Investors INC. ET AL grew its stake in shares of Macy’s by 9.3% during the first quarter. Gamco Investors INC. ET AL now owns 11,800 shares of the company’s stock worth $236,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

Shares of NYSE:M opened at $15.40 on Friday. The business’s 50 day moving average is $15.50 and its 200-day moving average is $17.37. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $4.26 billion, a PE ratio of 513.33 and a beta of 2.11. Macy’s has a 1-year low of $10.59 and a 1-year high of $22.10.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. Macy’s’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 EPS. Sell-side analysts predict that Macy’s will post 2.72 earnings per share for the current year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.1737 per share. The ex-dividend date was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.51%. Macy’s’s payout ratio is currently 2,300.00%.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.