BMO Capital Markets reaffirmed their outperform rating on shares of Macy’s Inc (NYSE:M) in a research note issued to investors on Thursday, September 14th.
M has been the topic of several other research reports. Jefferies Group LLC reaffirmed a hold rating and set a $21.00 target price (down previously from $24.00) on shares of Macy’s in a research report on Friday, August 11th. Cowen and Company reaffirmed a market perform rating and set a $23.00 target price (down previously from $26.00) on shares of Macy’s in a research report on Friday, August 11th. Deutsche Bank AG increased their target price on Macy’s from $24.00 to $25.00 and gave the company a hold rating in a research report on Tuesday, August 8th. Royal Bank Of Canada set a $23.00 target price on Macy’s and gave the company a hold rating in a research report on Friday, August 11th. Finally, Goldman Sachs Group, Inc. (The) dropped their target price on Macy’s from $28.00 to $25.00 and set a neutral rating on the stock in a research report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $27.63.
Macy’s (NYSE:M) opened at 21.53 on Thursday. The stock’s 50 day moving average price is $21.53 and its 200-day moving average price is $24.80. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 9.79 and a beta of 0.83. Macy’s has a 12 month low of $19.32 and a 12 month high of $45.41.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Macy’s’s revenue was down 5.4% compared to the same quarter last year. Equities analysts anticipate that Macy’s will post $3.39 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Macy’s’ (NYSE:M) Outperform Rating Reiterated at BMO Capital Markets” was originally posted by Week Herald and is the property of of Week Herald. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & international copyright laws. The correct version of this article can be read at https://weekherald.com/2017/09/24/macys-inc-m-earns-outperform-rating-from-bmo-capital-markets.html.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 7.01%. The ex-dividend date is Thursday, September 14th. Macy’s’s payout ratio is 68.64%.
In other news, Director John A. Bryant acquired 9,825 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the acquisition, the director now owns 9,825 shares in the company, valued at approximately $199,644. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.
Several institutional investors have recently modified their holdings of M. BlackRock Inc. boosted its holdings in shares of Macy’s by 2,606.3% during the 1st quarter. BlackRock Inc. now owns 24,416,816 shares of the company’s stock worth $723,716,000 after purchasing an additional 23,514,600 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in shares of Macy’s during the 1st quarter worth approximately $73,163,000. Discovery Capital Management LLC CT raised its position in shares of Macy’s by 239.0% during the 2nd quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock valued at $66,729,000 after buying an additional 2,024,297 shares during the period. Morgan Stanley raised its position in shares of Macy’s by 50.0% during the 1st quarter. Morgan Stanley now owns 3,772,472 shares of the company’s stock valued at $111,817,000 after buying an additional 1,258,024 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Macy’s by 26.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock valued at $123,703,000 after buying an additional 1,117,903 shares during the period. Institutional investors and hedge funds own 81.69% 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.
Receive News & Ratings for Macy’s Inc Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Macy’s Inc and related companies with MarketBeat.com’s FREE daily email newsletter.