Brokerages Set Macy's, Inc. (NYSE:M) Target Price at $58.11

Shares of Macy's, Inc. (NYSE:M) have earned a consensus recommendation of “Hold” from the thirty-two analysts that are presently covering the firm, Analyst Ratings Network.com reports. Two research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $58.11.

A number of equities research analysts recently weighed in on M shares. S&P Equity Research reaffirmed a “hold” rating and issued a $60.00 target price on shares of Macy's in a research note on Friday, September 11th. BMO Capital Markets lowered their target price on shares of Macy's from $70.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, November 13th. Goldman Sachs downgraded shares of Macy's from a “buy” rating to a “neutral” rating and lowered their target price for the company from $66.00 to $42.00 in a research note on Friday, December 4th. Citigroup Inc. reaffirmed a “hold” rating and issued a $43.00 target price (down from $48.00) on shares of Macy's in a research note on Monday, November 9th. Finally, Cleveland Research downgraded shares of Macy's from a “buy” rating to a “neutral” rating in a research note on Monday, October 5th.

Shares of Macy's (NYSE:M) traded down 0.8713% during midday trading on Monday, hitting $34.6752. 3,157,517 shares of the company traded hands. The stock has a market capitalization of $10.90 billion and a PE ratio of 8.9786. Macy's has a 52 week low of $34.05 and a 52 week high of $73.61. The stock has a 50 day moving average of $37.61 and a 200-day moving average of $54.43.

Macy's (NYSE:M) last released its quarterly earnings data on Wednesday, November 11th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Macy's’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. Equities analysts forecast that Macy's will post $4.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 15th will be issued a $0.36 dividend. The ex-dividend date is Friday, December 11th. This represents a $1.44 dividend on an annualized basis and a yield of 4.12%.

12 Month Chart for NYSE:M

Macy’s, Inc. is an omnichannel retail company operating stores, Websites (NYSE:M) and mobile. As of January 31, 2015, the operations of the Company included 823 stores with an area of approximately 147,400,000 square feet in 45 states of the United States, the District of Columbia, Guam and Puerto Rico. Of these 823 stores, 447 were owned, 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land. The Company operates its stores under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury. The Company operates 13 Bloomingdale’s outlet stores. Bloomingdale’s in Dubai, the United Arab Emirates is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC.

 

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