Macy’s Inc (M) Receives Average Recommendation of “Hold” from Analysts

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Macy’s Inc (NYSE:M) has earned a consensus recommendation of “Hold” from the twenty-three research firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $31.12.

M has been the topic of several recent analyst reports. Zacks Investment Research reaffirmed a “hold” rating and set a $43.00 target price on shares of Macy’s in a research report on Wednesday, November 14th. Bank of America set a $39.00 target price on Macy’s and gave the company a “hold” rating in a research report on Thursday, November 15th. Deutsche Bank upped their target price on Macy’s from $35.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, November 15th. Canaccord Genuity raised Macy’s from an “average” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Friday, November 16th. Finally, Atlantic Securities lowered Macy’s from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $39.00 to $28.00 in a research report on Thursday, December 6th.

Shares of NYSE M opened at $25.24 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.35 and a quick ratio of 0.24. The firm has a market cap of $7.62 billion, a P/E ratio of 6.69, a P/E/G ratio of 0.90 and a beta of 0.50. Macy’s has a 1-year low of $24.05 and a 1-year high of $41.99.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. As a group, equities analysts forecast that Macy’s will post 3.9 EPS for the current fiscal year.

In related news, Director William H. Lenehan bought 3,154 shares of the stock in a transaction dated Friday, November 16th. The shares were purchased at an average price of $31.74 per share, for a total transaction of $100,107.96. Following the completion of the purchase, the director now directly owns 11,214 shares of the company’s stock, valued at $355,932.36. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Harry A. Lawton III sold 200,000 shares of the company’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $33.09, for a total value of $6,618,000.00. Following the completion of the sale, the president now owns 226,038 shares in the company, valued at approximately $7,479,597.42. The disclosure for this sale can be found here. 2.36% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Investors Research Corp boosted its stake in shares of Macy’s by 1.0% in the fourth quarter. Investors Research Corp now owns 41,039 shares of the company’s stock worth $1,222,000 after buying an additional 400 shares during the last quarter. Securian Asset Management Inc boosted its position 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 in the last quarter. Park Avenue Securities LLC boosted its position 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 in the last quarter. Private Capital Group LLC boosted its position 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 in the last quarter. Finally, Contravisory Investment Management Inc. boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 91.95% 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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