Macy’s (NYSE:M – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other equities research analysts also recently issued reports on M. The Goldman Sachs Group assumed coverage on Macy’s in a research report on Monday, January 30th. They set a “buy” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. upgraded Macy’s from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $28.00 to $29.00 in a research report on Monday, April 3rd. Credit Suisse Group upped their price objective on Macy’s from $19.00 to $20.00 and gave the company an “underperform” rating in a research report on Friday, March 3rd. Morgan Stanley upped their target price on Macy’s from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, March 3rd. Finally, Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating and set a $18.00 target price on the stock. in a research note on Wednesday, March 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Macy’s presently has a consensus rating of “Hold” and an average price target of $23.83.
Macy’s Stock Down 3.5 %
M stock opened at $14.75 on Friday. Macy’s has a 1-year low of $14.48 and a 1-year high of $25.12. The business has a fifty day moving average price of $18.31 and a 200-day moving average price of $20.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.33. The stock has a market capitalization of $4.02 billion, a P/E ratio of 3.52, a P/E/G ratio of 0.36 and a beta of 1.81.
Macy’s (NYSE:M – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.57 by $0.31. Macy’s had a return on equity of 35.06% and a net margin of 4.82%. The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the company posted $2.45 earnings per share. Macy’s’s revenue was down 4.6% compared to the same quarter last year. Equities analysts forecast that Macy’s will post 3.79 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Macy’s
A number of institutional investors have recently modified their holdings of M. Raymond James Financial Services Advisors Inc. boosted its holdings in Macy’s by 7.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 44,210 shares of the company’s stock worth $1,077,000 after buying an additional 2,981 shares during the last quarter. US Bancorp DE raised its position in shares of Macy’s by 7.2% during the 1st quarter. US Bancorp DE now owns 18,576 shares of the company’s stock valued at $452,000 after buying an additional 1,244 shares during the period. Natixis Advisors L.P. raised its position in shares of Macy’s by 34.4% during the 1st quarter. Natixis Advisors L.P. now owns 28,563 shares of the company’s stock valued at $696,000 after buying an additional 7,317 shares during the period. APG Asset Management N.V. purchased a new stake in shares of Macy’s during the 1st quarter valued at approximately $1,482,000. Finally, Great West Life Assurance Co. Can raised its position in shares of Macy’s by 13.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 219,731 shares of the company’s stock valued at $5,550,000 after buying an additional 26,827 shares during the period. 80.19% of the stock is currently owned by institutional investors and hedge funds.
Macy’s Company Profile
Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.