Macy’s Inc. (M) Stock Price Down 4.3%
Macy’s Inc. (NYSE:M)’s share price fell 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. The stock had previously closed at $38.19.
Several equities analysts recently commented on the company. Vetr downgraded Macy’s from a “hold” rating to a “strong sell” rating and set a $35.17 price objective on the stock. in a research note on Monday, August 15th. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a research note on Tuesday, July 26th. RBC Capital Markets reiterated a “sector perform” rating and issued a $40.00 price objective (up previously from $35.00) on shares of Macy’s in a research note on Saturday, August 13th. Goldman Sachs Group Inc. upped their price objective on Macy’s from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, August 12th. Finally, Telsey Advisory Group upped their price objective on Macy’s from $36.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, August 12th. Three investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have given a buy rating to the company’s stock. Macy’s has a consensus rating of “Hold” and an average target price of $44.74.
The firm has a 50 day moving average price of $36.84 and a 200-day moving average price of $37.71. The stock has a market capitalization of $11.33 billion and a P/E ratio of 14.73.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.09. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.73 billion. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts predict that Macy’s Inc. will post $3.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.51 dividend on an annualized basis and a yield of 4.16%.
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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