Macy’s Inc. (M) Stock Price Down 4.3%
Macy’s Inc. (NYSE:M) shares traded down 4.3% on Wednesday . The company traded as low as $36.08 and last traded at $36.55, with a volume of 8,807,023 shares changing hands. The stock had previously closed at $38.19.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $35.00 target price (down previously from $37.00) on shares of Macy’s in a report on Saturday, August 13th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $40.00 target price (up previously from $35.00) on shares of Macy’s in a report on Saturday, August 13th. Vetr downgraded Macy’s from a “hold” rating to a “strong sell” rating and set a $35.17 price target for the company. in a research report on Monday, August 15th. Finally, Citigroup Inc. lifted their price target on Macy’s from $30.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, August 12th. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $44.74.
The stock has a market cap of $11.16 billion and a P/E ratio of 14.51. The firm has a 50 day moving average of $36.79 and a 200 day moving average of $37.73.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. The company earned $5.87 billion during the quarter, compared to analyst estimates of $5.73 billion. The company’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Equities analysts predict that Macy’s Inc. will post $3.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 4.17%. The ex-dividend date is Tuesday, September 13th.
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.
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