Macy’s, Inc. (NYSE:M) Receives Consensus Rating of “Hold” from Brokerages

Macy’s, Inc. (NYSE:M) has earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $18.56.

A number of analysts have recently issued reports on M shares. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, December 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research note on Wednesday, December 11th. Argus raised shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, StockNews.com cut Macy’s from a “buy” rating to a “hold” rating in a research note on Thursday, December 26th.

Macy’s Stock Performance

NYSE M opened at $16.56 on Friday. The company’s 50 day simple moving average is $16.09 and its two-hundred day simple moving average is $16.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. Macy’s has a 1 year low of $14.06 and a 1 year high of $22.10. The stock has a market capitalization of $4.60 billion, a PE ratio of 28.07 and a beta of 2.10.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the business posted $0.21 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts predict that Macy’s will post 2.38 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.20%. The ex-dividend date was Friday, December 13th. Macy’s’s dividend payout ratio is presently 116.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of Macy’s in the third quarter worth about $35,000. Venturi Wealth Management LLC raised its position in Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Macy’s in the 3rd quarter worth approximately $39,000. Abich Financial Wealth Management LLC bought a new stake in shares of Macy’s in the 2nd quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macy’s during the second quarter valued at approximately $62,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

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.