Vetr Lowers Macy’s (M) to Buy
Vetr lowered shares of Macy’s (NYSE:M) from a strong-buy rating to a buy rating in a report published on Monday morning. They currently have $27.26 target price on the stock.
A number of other equities research analysts also recently weighed in on the stock. Susquehanna Bancshares set a $38.00 price target on shares of Macy’s and gave the stock a buy rating in a research note on Friday, October 20th. Citigroup downgraded shares of Macy’s from a neutral rating to a sell rating and dropped their price target for the stock from $21.00 to $16.00 in a research note on Monday, October 30th. Royal Bank Of Canada set a $21.00 price target on shares of Macy’s and gave the stock a sector perform rating in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of Macy’s from a hold rating to a sell rating in a research note on Wednesday, October 11th. Finally, BMO Capital Markets reissued a buy rating and set a $36.00 price target on shares of Macy’s in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $25.41.
Macy’s (M) opened at $25.09 on Monday. Macy’s has a 12 month low of $17.41 and a 12 month high of $43.79. The firm has a market cap of $7,681.17, a PE ratio of 8.49, a price-to-earnings-growth ratio of 0.87 and a beta of 0.97. 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 announced its earnings results on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. sell-side analysts anticipate that Macy’s will post 3.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 6.02%. The ex-dividend date is Thursday, December 14th. Macy’s’s payout ratio is 66.52%.
A number of institutional investors and hedge funds have recently made changes to their positions in M. Ffcm LLC raised its position in Macy’s by 251.6% during the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after acquiring an additional 3,615 shares in the last quarter. Penserra Capital Management LLC raised its position in Macy’s by 51.1% during the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock worth $129,000 after acquiring an additional 1,880 shares in the last quarter. Kistler Tiffany Companies LLC bought a new stake in Macy’s during the third quarter worth $148,000. IFP Advisors Inc raised its position in Macy’s by 62.9% during the third quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock worth $174,000 after acquiring an additional 3,083 shares in the last quarter. Finally, IFM Investors Pty Ltd bought a new stake in Macy’s during the third quarter worth $200,000. Institutional investors and hedge funds own 82.27% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.