TheStreet Downgrades Macy’s (M) to C+

TheStreet downgraded shares of Macy’s (NYSE:M) from a b- rating to a c+ rating in a research note released on Tuesday, February 5th.

A number of other brokerages have also recently weighed in on M. Bank of America cut shares of Macy’s from a neutral rating to an underperform rating in a research report on Thursday, January 10th. Gordon Haskett cut shares of Macy’s from a buy rating to a hold rating in a report on Thursday, January 10th. OTR Global cut shares of Macy’s to a positive rating in a report on Wednesday, February 6th. Zacks Investment Research cut shares of Macy’s from a buy rating to a hold rating in a report on Monday, October 15th. Finally, Royal Bank of Canada lowered their price target on shares of Macy’s to $29.00 and set a sector perform rating for the company in a report on Friday, January 11th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. Macy’s has an average rating of Hold and an average price target of $31.78.

Shares of NYSE M traded down $0.30 during trading on Tuesday, hitting $24.49. The company had a trading volume of 11,212,892 shares, compared to its average volume of 7,360,054. Macy’s has a fifty-two week low of $23.95 and a fifty-two week high of $41.99. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 5.86, a price-to-earnings-growth ratio of 0.86 and a beta of 0.50. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97.

Macy’s (NYSE:M) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $2.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.20. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same period last year, the firm posted $2.82 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Macy’s will post 3.18 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a $0.3775 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.51 dividend on an annualized basis and a yield of 6.17%. Macy’s’s payout ratio is 36.12%.

Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Macy’s by 2.1% in the 2nd quarter. FMR LLC now owns 7,740,157 shares of the company’s stock valued at $289,715,000 after purchasing an additional 162,184 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Macy’s by 6.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 418,744 shares of the company’s stock worth $15,674,000 after purchasing an additional 25,655 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Macy’s by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,827,606 shares of the company’s stock worth $367,847,000 after purchasing an additional 25,971 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Macy’s by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 126,080 shares of the company’s stock worth $4,377,000 after purchasing an additional 2,240 shares during the period. Finally, Manning & Napier Group LLC lifted its position in shares of Macy’s by 25.1% in the 3rd quarter. Manning & Napier Group LLC now owns 68,805 shares of the company’s stock worth $2,389,000 after purchasing an additional 13,810 shares during the period. Institutional investors own 90.65% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Analyst Recommendations for Macy`s (NYSE:M)

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