ValuEngine Upgrades Macy’s (M) to “Hold”

ValuEngine upgraded shares of Macy’s (NYSE:M) from a sell rating to a hold rating in a report published on Monday, February 4th.

Other research analysts have also issued reports about the company. Zacks Investment Research reiterated a hold rating and issued a $43.00 price objective on shares of Macy’s in a research report on Wednesday, November 14th. Bank of America set a $39.00 price target on Macy’s and gave the company a hold rating in a research note on Thursday, November 15th. Atlantic Securities downgraded Macy’s from a neutral rating to an underweight rating and cut their price target for the company from $39.00 to $28.00 in a research note on Thursday, December 6th. Deutsche Bank increased their price target on Macy’s from $35.00 to $38.00 and gave the company a hold rating in a research note on Thursday, November 15th. Finally, Canaccord Genuity raised Macy’s from an average rating to a buy rating and set a $5.50 price objective on the stock in a research note on Friday, November 16th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $31.78.

Shares of M stock traded down $0.30 during trading hours on Monday, 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 12 month low of $23.95 and a 12 month high of $41.99. The firm has a market cap of $7.40 billion, a P/E ratio of 5.86, a P/E/G ratio of 0.86 and a beta of 0.50. The company has a current ratio of 1.35, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97.

Macy’s (NYSE:M) last released its quarterly earnings results on Tuesday, February 26th. The company reported $2.73 EPS for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.20. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.40 billion. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. Macy’s’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 EPS. Sell-side analysts forecast that Macy’s will post 3.25 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date is Thursday, March 14th. Macy’s’s dividend payout ratio (DPR) is presently 36.12%.

Several hedge funds and other institutional investors have recently made changes to their positions in M. Investors Research Corp grew its holdings in Macy’s by 1.0% during the fourth quarter. Investors Research Corp now owns 41,039 shares of the company’s stock worth $1,222,000 after purchasing an additional 400 shares during the period. Securian Asset Management Inc grew its holdings in Macy’s by 1.3% during the fourth quarter. Securian Asset Management Inc now owns 31,365 shares of the company’s stock worth $934,000 after purchasing an additional 403 shares during the period. Park Avenue Securities LLC grew its holdings in Macy’s by 5.5% during the fourth quarter. Park Avenue Securities LLC now owns 8,488 shares of the company’s stock worth $216,000 after purchasing an additional 443 shares during the period. Private Capital Group LLC grew its holdings in Macy’s by 110.1% during the fourth quarter. Private Capital Group LLC now owns 1,002 shares of the company’s stock worth $30,000 after purchasing an additional 525 shares during the period. Finally, Contravisory Investment Management Inc. grew its holdings in Macy’s by 4.8% during the fourth quarter. Contravisory Investment Management Inc. now owns 11,784 shares of the company’s stock worth $351,000 after purchasing an additional 540 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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