Macy’s, Inc. (NYSE:M) Receives $19.86 Consensus Target Price from Brokerages

Shares of Macy’s, Inc. (NYSE:M) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $19.86.

M has been the subject of several research analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a report on Wednesday. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley dropped their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Finally, StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th.

Institutional Investors Weigh In On Macy’s

Several hedge funds have recently made changes to their positions in M. Quest Partners LLC acquired a new position in shares of Macy’s in the 3rd quarter valued at about $35,000. Venturi Wealth Management LLC increased its stake in Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after buying an additional 1,685 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Macy’s in the 3rd quarter valued at approximately $39,000. Abich Financial Wealth Management LLC purchased a new stake in Macy’s in the 2nd quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macy’s during the 2nd quarter valued at $62,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Trading Down 0.9 %

Shares of NYSE:M opened at $16.58 on Monday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $15.76 and its 200 day moving average price is $16.53. The company has a market cap of $4.60 billion, a PE ratio of 25.90 and a beta of 2.11. Macy’s has a fifty-two week low of $14.06 and a fifty-two week high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that Macy’s will post 2.74 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, December 13th. Macy’s’s payout ratio is 107.81%.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.