Analysts Set Macy’s, Inc. (NYSE:M) Target Price at $20.43

Macy’s, Inc. (NYSE:M) has been assigned an average rating of “Hold” from the eight research firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.43.

A number of research firms have commented on M. Morgan Stanley reduced their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st. StockNews.com assumed coverage on Macy’s in a research report on Thursday, October 17th. They set a “hold” rating on the stock. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Evercore ISI decreased their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th.

Macy’s Price Performance

Macy’s stock opened at $15.71 on Friday. The business has a 50 day simple moving average of $15.55 and a 200 day simple moving average of $17.42. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The company has a market capitalization of $4.34 billion, a PE ratio of 523.50 and a beta of 2.11. Macy’s has a one year low of $10.59 and a one year high of $22.10.

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

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.1737 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.42%. Macy’s’s payout ratio is 2,300.00%.

Institutional Trading of Macy’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in M. Riverview Trust Co acquired a new stake in Macy’s during the 1st quarter worth $27,000. Fidelis Capital Partners LLC acquired a new stake in shares of Macy’s during the first quarter worth $42,000. Future Financial Wealth Managment LLC acquired a new position in Macy’s in the first quarter valued at about $50,000. EntryPoint Capital LLC acquired a new position in Macy’s in the first quarter valued at about $51,000. Finally, Abich Financial Wealth Management LLC bought a new position in Macy’s during the second quarter worth about $57,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.