Macy’s Inc (M) PT Set at $23.00 by Royal Bank Of Canada
Macy’s Inc (NYSE:M) has been given a $23.00 price objective by equities research analysts at Royal Bank Of Canada in a research report issued on Friday. The firm presently has a “hold” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 11.27% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. Vetr lowered shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price objective for the company. in a research report on Thursday, July 27th. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday. Bank of America Corporation decreased their price objective on shares of Macy’s from $31.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, June 9th. Deutsche Bank AG boosted their price objective on shares of Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Gordon Haskett initiated coverage on shares of Macy’s in a research note on Tuesday, May 9th. They set a “hold” rating and a $29.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Macy’s presently has an average rating of “Hold” and a consensus target price of $31.89.
Shares of Macy’s (NYSE M) opened at 20.67 on Friday. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 11.15 and a beta of 0.84. The stock’s 50 day moving average is $22.91 and its 200 day moving average is $26.93. Macy’s has a 1-year low of $20.55 and a 1-year high of $45.41. Macy’s also was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 33,975 call options on the company. This is an increase of approximately 489% compared to the average volume of 5,766 call options.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Macy’s had a net margin of 2.26% and a return on equity of 22.37%. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Macy’s will post $3.29 EPS for the current year.
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In related news, insider Jeffrey Gennette acquired 13,085 shares of the stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the purchase, the insider now owns 89,053 shares in the company, valued at approximately $2,043,766.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Lenehan acquired 4,390 shares of the stock in a transaction dated Thursday, June 15th. The stock was bought at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the purchase, the director now owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Sanders Morris Harris Inc. acquired a new stake in Macy’s during the first quarter worth $231,000. Rockland Trust Co. increased its stake in Macy’s by 4.3% in the first quarter. Rockland Trust Co. now owns 24,080 shares of the company’s stock worth $714,000 after buying an additional 995 shares in the last quarter. NewSquare Capital LLC increased its stake in Macy’s by 23,913.0% in the first quarter. NewSquare Capital LLC now owns 25,934 shares of the company’s stock worth $769,000 after buying an additional 25,826 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Macy’s during the first quarter worth $254,000. Finally, Smith Graham & Co. Investment Advisors LP increased its stake in Macy’s by 48.2% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 154,560 shares of the company’s stock worth $4,581,000 after buying an additional 50,250 shares in the last quarter. Institutional investors and hedge funds own 84.30% 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.
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