BMO Capital Markets set a $38.00 price objective on Macy's (NYSE:M) in a research note published on Friday, January 5th. The firm currently has a buy rating on the stock.
Several other research analysts also recently commented on the company. Susquehanna Bancshares set a $38.00 price objective on Macy's and gave the stock a buy rating in a report on Friday, October 20th. Citigroup cut Macy's from a neutral rating to a sell rating and dropped their target price for the company from $21.00 to $16.00 in a research report on Monday, October 30th. Royal Bank of Canada set a $21.00 target price on Macy's and gave the company a sector perform rating in a research report on Friday, October 20th. Zacks Investment Research cut Macy's from a hold rating to a sell rating in a research report on Wednesday, October 11th. Finally, OTR Global raised Macy's to a sell rating in a research report on Monday, December 18th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $26.02.
Shares of Macy's (NYSE:M) traded up $0.59 during midday trading on Friday, hitting $26.89. The stock had a trading volume of 13,569,121 shares, compared to its average volume of 14,480,000. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. Macy's has a 12-month low of $17.41 and a 12-month high of $34.37. The stock has a market capitalization of $8,190.00, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97.
Macy's (NYSE:M) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. Macy's had a return on equity of 21.20% and a net margin of 2.83%. Macy's’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. research analysts expect that Macy's will post 3.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were paid a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 5.62%. Macy's’s payout ratio is currently 66.52%.
Institutional investors have recently made changes to their positions in the stock. Ffcm LLC boosted its holdings in Macy's by 251.6% in the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares during the last quarter. Kistler Tiffany Companies LLC acquired a new stake in Macy's in the 3rd quarter worth about $148,000. IFP Advisors Inc boosted its holdings in Macy's by 62.9% in the 3rd quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock worth $174,000 after buying an additional 3,083 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in Macy's in the 3rd quarter worth about $200,000. Finally, Westside Investment Management Inc. boosted its holdings in Macy's by 3,191.7% in the 2nd quarter. Westside Investment Management Inc. now owns 9,875 shares of the company’s stock worth $208,000 after buying an additional 9,575 shares during the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “BMO Capital Markets Reiterates $38.00 Price Target for Macy's (M)” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/01/13/macys-m-given-a-38-00-price-target-at-bmo-capital-markets.html.
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.
Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.