StockNews.com Begins Coverage on Macy’s (NYSE:M)

Equities research analysts at StockNews.com assumed coverage on shares of Macy’s (NYSE:M) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

Several other research firms have also recently weighed in on M. Morgan Stanley dropped their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Argus raised Macy’s to a “hold” rating in a research report on Thursday, October 10th. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research report on Wednesday, August 21st. Finally, Evercore ISI decreased their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.43.

Macy’s Trading Up 4.0 %

Shares of M stock opened at $16.27 on Thursday. The stock has a market capitalization of $4.50 billion, a PE ratio of 542.17 and a beta of 2.11. Macy’s has a 1-year low of $10.59 and a 1-year high of $22.10. The business has a 50-day moving average of $15.52 and a 200 day moving average of $17.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the business posted $0.26 EPS. The business’s revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Macy’s will post 2.72 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new position in Macy’s during the 1st quarter valued at approximately $27,000. Fidelis Capital Partners LLC bought a new position in Macy’s during the 1st quarter valued at approximately $42,000. Future Financial Wealth Managment LLC purchased a new stake in Macy’s during the 1st quarter valued at $50,000. EntryPoint Capital LLC purchased a new stake in Macy’s during the 1st quarter valued at $51,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Macy’s during the 2nd quarter valued at $57,000. Institutional investors own 87.36% of the company’s stock.

About Macy’s

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.