Macy’s (NYSE:M) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Macy’s (NYSE:M) in a research report issued on Saturday. The brokerage set a “hold” rating on the stock.

A number of other research firms also recently commented on M. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Evercore ISI cut 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. Morgan Stanley lowered their price target on 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. Finally, Argus raised Macy’s to a “hold” rating in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.43.

Macy’s Stock Performance

Shares of M stock opened at $15.27 on Friday. Macy’s has a 12-month low of $10.59 and a 12-month high of $22.10. 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 firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 23.86 and a beta of 2.11. The business has a 50 day simple moving average of $15.35 and a 200 day simple moving average of $17.20.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 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 for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company earned $0.26 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Macy’s will post 2.72 EPS for the current year.

Institutional Trading of Macy’s

Several institutional investors and hedge funds have recently bought and sold shares of M. State of Michigan Retirement System grew its position in Macy’s by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 67,270 shares of the company’s stock worth $1,345,000 after purchasing an additional 1,600 shares in the last quarter. Norden Group LLC acquired a new position in Macy’s during the first quarter valued at $259,000. BNP Paribas Financial Markets lifted its stake in Macy’s by 45.3% in the 1st quarter. BNP Paribas Financial Markets now owns 390,399 shares of the company’s stock worth $7,804,000 after acquiring an additional 121,664 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Macy’s during the 1st quarter worth about $42,000. Finally, Mutual Advisors LLC grew its stake in Macy’s by 58.0% during the 1st quarter. Mutual Advisors LLC now owns 88,623 shares of the company’s stock valued at $1,772,000 after acquiring an additional 32,537 shares in the last quarter. Institutional investors and hedge funds 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.